Kadans has expanded its ownership at Abingdon Science Park by 50,000 sq ft.
In January, the business park developer, which was acquired by AXA Investment Managers last year, acquired the 75, 316 sq ft Science Quadrant at the park which comprises four buildings.
Now Kadans has added two neighbouring buildings, Monarch House and Penlon House, totalling 50,000 sq ft, to its pan-European science park portfolio.
The buildings were acquired from two separate private clients. Kadans will renovate Monarch House and provide new laboratory and office accommodation.
Penlon House is 100 per cent let to medical device company Penlon which made ventilators at the height of the pandemic.
Thames Tap partner Carter Jonas and Knights plc (legal) advised both vendors through the transaction.
Jon Silversides, partner, commercial for Carter Jonas, said: “Oxford is the UK’s leading hub for innovation, and its life sciences market continues at a pace with increasing demand from investors.
“We are extremely pleased to have harnessed this demand, working with our clients to secure the sale of these assets – both of which were off-market transactions.
“The Kadans team has an opportunity to unlock the additional potential in these buildings and drive forward Oxfordshire’s ambition to support and advance further meaningful connections with real estate and the wider life sciences industry.”
James Sheppard, commercial director (UK & Ireland) for Kadans, said: “Oxfordshire is a key location for science and technology development. By controlling the arrival at Abingdon Science Park we can further optimise the site and create a flourishing ecosystem.
“The addition of these two buildings allows us to better deliver the Kadans eco-system and real estate proposition into one of Europe’s leading life science markets.”
Bidwells and Mills & Reeve were legal advisors for Kadans.
Lucy Young, associate for Bidwells, said: “Bidwells’ own recent research found more than £5 billion of capital is currently seeking a home in the Oxford-Cambridge Arc’s science and technology property market, ensuring continued strong demand for space in the best locations, such as Abingdon Science Park, in 2021 and beyond.”
Images: Top: Monarch House. Below: Penlon House.
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