Kadans Science Partner has acquired Merlin Place in Cambridge, adding to its European portfolio.
The acquisition continues the company’s growth in Cambridge after it acquired unit B900 at the Babraham Research Campus in April 2019.
Merlin Place is situated by the entrance to Cambridge Science Park, a short walk from the new Cambridge North train station. The 29,135 sq. ft building is set to become vacant in 2022, and subject to planning Kadans will renovate it into a statement building featuring office and laboratory space.
Cambridge is world-renowned for its science and technology innovation cluster. With the University of Cambridge acting as an anchor, it has attracted some of the world’s leading technology and pharmaceutical companies; the industries generating an £18 bullion turnover and employing 67,000 people across 5,300 firms.
James Sheppard, commercial director at Kadans (UK & Ireland) said “The acquisition of Merlin Place further strengthens Kadans’ footprint in the UK in one of the critical science and innovation markets. The redevelopment of Merlin Place will add some much-needed space to supply to the Cambridge laboratory market and help alleviate some of the demand. The opportunity to build a significant, statement asset in this gateway location was too good to miss. We look forward to working with local ecosystem partners to deliver a high-quality laboratory focused asset.”
Saul Western, partner, Bidwells capital markets, said “Merlin Place has performed well for our client reflective of the strong Cambridge market we have enjoyed. Kadans performed impeccably during its purchase and will be the ideal party to redevelop and operate an exciting new Science & Tech scheme in the coming years.”
Liam Nicholls, partner, Creative Places, said “It was a pleasure to work with Kadans on this transaction which represents an excellent strategic purchase at the northern gateway to Cambridge. We look forward to working with them in bringing forward a landmark building for the R&D sector here that befits the prominence of the site.”
The new acquisition means that Kadans now have a portfolio of 45 buildings across Europe, where it aspires to work with universities, venture capital firms and other organisations to create a knowledge-sharing ecosystem of science parks across Europe.
Creative places represented Kadans, Mills & Reeve acted as legal advisors, and Bidwells and Briketts (legal) represented the vendor in the transaction.
Image source- Bidwells
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