Welcome subscribers,
This week, we examine the Basque Country in Spain, which has undergone a remarkable transformation from its traditional heavy industry base to become a science and innovation leader. Plus, we spotlight leases, acquisitions and new developments across Europe:
✅ France: sale and leaseback in Rouen
✅ Germany: Frankfurt medical centre acquired
🔒 Netherlands: new build at Bilthoven
🔒 UK: >£1 billion investment in science spaces
(🔒 for paying members only)
Read below for full details.
— Stephen Ryan (connect with me on LinkedIn)
From steel to science: the Basque Country’s emergence in life sciences
Spain's Basque region evolves from manufacturing to biotech innovation.
Transactions
FRANCE ROUEN
An ophthalmological centre of 296 sq m at 70 route de Lyons-la-Forêt in Rouen has been sold via a sale and leaseback to a private real estate company. The property is let to ophthalmology chain Klarity on a ten-year lease, with nine years secured. The transaction was completed at a 6.4 per cent yield; the sale price was not disclosed. Klarity will remain in place as tenant under the long-term agreement.
GERMANY FRANKFURT
VALUES Real Estate has acquired the Facharztzentrum Frankfurt (Frankfurt Specialist Medical Centre), positioned on Mainzer Landstraße 65 between Westend and the banking district in Frankfurt's CBD. The property, built in 1992, offers approximately 5,400 sq m of rental space, fully leased long-term to eight different specialist medical practices, including dental, surgical and orthopaedic specialists, plus an outpatient surgery centre and a ground-floor café. This acquisition marks the 17th property for the institutional fund VALUES Health Invest I, which targets outpatient medical centres with a Core/Core-Plus risk profile.
IRELAND LAOIS
Laois County Council has approved the sale of 3.7 hectares of land at J17 National Enterprise Park in Portlaoise for €1.4 million (£1.2 million) to BNL Sciences, a Kildare-based company. BNL Sciences, which supplies chemicals to the biopharma sector and is owned by Dutch company Caldic, plans to build a new pharmaceutical plant on the site.
👇 As a complimentary member, you get access to three deals for free.
Upgrade now to access the full list (eight more deals this week), including:
🔒 UK: >£1 billion investment in science spaces
🔒 Ireland: Galway Biomedical's new facility
