Welcome subscribers,
In this edition, we examine real estate occupied by medtech companies and how it has attracted institutional investors. Additionally, we cover new builds, sales, conversions and leasing activities across Europe. Read on and enjoy!
✅ Denmark: M7 Real Estate new lease
✅ Germany: acquisition in Wolfsburg
✅ Ireland: HSE buys Elmgreen Park
✅ UK: Siemens Healthineers expanding
Read more below for all the details.
Why institutional real estate investors are turning to medtech
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New and extended assets
FRANCE NORMANDY
At its Le Trait site in Normandy, Sanofi will invest €100 million (£85 million) to develop new capacity for biologics formulation, filling, device assembly and packaging. This will help support the launch of future biologics and vaccines, as well as the continued growth of Dupixent®, the biologic to treat chronic obstructive pulmonary disease (COPD). The site already hosts more than 1,000 employees making vaccines and drugs in immunology and the cardiovascular field.
PORTUGAL VIANA
The old slaughterhouse in Viana do Castelo in northern Portugal will give way to a new technology, science and art centre by 2027. The process of converting the 2,507 sq m (27,000 sq ft) building, which has been vacant for 34 years, will begin at the end of the year, with an investment of €6 million (£5.1 million). The public tender for the project is scheduled for July.
UK MANCHESTER
Willmott Dixon has been chosen as main contractor to build a research and development lab in Manchester Science Park. The £60 million (€71 million) job will involve developing a 131,000 sq ft (12,170 sq m) laboratory space, known as Greenheys, across six floors in Manchester’s knowledge quarter at Oxford Road. Scheduled for completion in Summer 2026, Greenheys will feature specialised laboratory spaces for diagnostics, genomics, biotech and precision medicine businesses. The future HQ for UK Biobank will occupy about half the space.
UK OXFORD
Siemens Healthineers is building a new £250 million (€294 million) manufacturing plant in Oxfordshire which will support more than 1,300 jobs when operational. The huge 56,000 sq m (603,000 sq ft) facility, under construction at the 48-acre (19-ha) Symmetry Park site in Oxfordshire, will design and manufacture superconducting magnets used in healthcare facilities globally for MRI patient scans.
UK PETERHOUSE
British Land has marked the topping out of The Optic, a new office and lab building at Peterhouse Technology Park, which lies to the southeast of Cambridge city centre. The Optic will provide 95,000 sq ft (8,800 sq m) of office and lab-enabled space. British Land is working with architects Scott Brownrigg and contractor SDC and completion is scheduled in February 2025.
