Good morning subscribers!
Welcome to the inaugural edition of your biweekly Life Sciences Real Estate newsletter, a vibrant new take on your trusted quarterly resource. We've revamped our delivery schedule to ensure the coverage is as timely as possible. Every second week, we'll be providing you with essential insights into Europe's life sciences real estate market.
In this issue, discover:
✅ Revitalising spaces: witness the transformative rebirth of a once-vacant art museum into a buzzing life sciences hub. Another lesson in adaptive reuse.
✅ Science unleashed: how is the design of a building vital to scientific innovation? A leading molecular biologist explains the importance of collaboration and informal interaction.
✅ Growth in action: the life sciences sector is expanding its horizons and its physical footprint. Stay ahead of the curve with insights into new and extended assets.
✅ Deal watch: a window into recent sales transactions, financing, and leases, all in one place.
Explore the fascinating intersections of real estate, science, and investment. Dive in!
Vacated art museum in California reincarnated as life sciences hub
We tell the remarkable story of a building reborn
Read the full articleScientists need space that facilitates close and informal interaction
Interview with leading Professor of Molecular Biology
Read the full articleNew and extended assets
BELGIUM - GOSSELIES
Catalent has a new plasmid DNA manufacturing facility. In Q1 2023 Catalent announced the opening of a new commercial-scale plasmid DNA (pDNA) manufacturing facility at its European centre of excellence for cell therapies in Gosselies. The facility contains over 1,100 sq m (12,000 sq ft) of development and manufacturing space across multiple cleanrooms for the dedicated production of CGMP-grade pDNA. Catalent will also produce a new range of ‘off-the-shelf’ plasmids to support cell and gene companies.
FRANCE - LA ROCHELLE
Théa group the ophthalmology specialist plans to invest €10 million on a new production facility in La Rochelle. Théa, which has its headquarters and R&D centre in the Brézet business park in Clermont Ferrand, expects delivery of the new facility in 2024, after which ANSM, the French medicines and healthcare products regulatory agency, will run all the requisite tests, checks and audits ready for go-live production in 2026. The project is part of the group’s strategy to replace its existing unit called ‘Bénac’ in nearby Périgny. The new facility, in La Rochelle’s Technocéan business park, will have 1,700 sq m of space, a big step-up from what is available today.
GERMANY - BIBERACH
Boehringer Ingelheim, Germany's second-largest drug manufacturer, has opened a new development centre for biotechnology in Biberach, Baden-Württemberg. The company is investing €350 million to build a laboratory the size of five soccer pitches. There, drugs are developed from cell cultures that are used, for example, to treat cancer or immune diseases. In the new building complex, the Biologicals Development Center, around 500 employees will produce active ingredients from laboratory scale to clinical studies.
GERMANY - MUNICH
ITM opens a new production facility in Neufahrn near Munich dedicated to the production of therapeutic radionuclides. ITM, short for Isotope Technologies Munich SE established this new facility which is the world's largest complex to produce Lutetium-177 - an innovative medical isotope used in cancer therapy. The facility's direct connection to Munich Airport enables the timely dispatch of the short-lived therapeutic isotopes and radiopharmaceuticals worldwide. The new location offers clean rooms, laboratories and offices that can be used by up to 200 employees for research, as well as radiopharmaceutical manufacturing and aseptic production with the highest quality standards.
IRELAND - WEXFORD
Becton Dickinson, the US medtech multinational simply known as BD, is growing its presence in Ireland. The company will invest €30 million to expand its manufacturing facility in Enniscorthy, Co Wexford, adding 3,700 sq m (40,000 sq ft) of capacity at the site. With the majority of new pharmaceutical drugs in the development pipeline being injectable drugs, BD said it has developed new injection devices to meet this growing segment of the medical device market.
UK - LONDON NW1
British Land has unveiled plans to redevelop Euston Tower into a life sciences and innovation hub. The move is in line with the company’s strategy to deliver life sciences space at the wider 13-acre (5.3 ha) Regent’s Place estate in London. Danish architects 3XN and London-based DSDHA are working on designs for the 36-storey tower within the Knowledge Quarter.
Catalent has a new plasmid DNA manufacturing facility. In Q1 2023 Catalent announced the opening of a new commercial-scale plasmid DNA (pDNA) manufacturing facility at its European centre of excellence for cell therapies in Gosselies. The facility contains over 1,100 sq m (12,000 sq ft) of development and manufacturing space across multiple cleanrooms for the dedicated production of CGMP-grade pDNA. Catalent will also produce a new range of ‘off-the-shelf’ plasmids to support cell and gene companies.
FRANCE - LA ROCHELLE
Théa group the ophthalmology specialist plans to invest €10 million on a new production facility in La Rochelle. Théa, which has its headquarters and R&D centre in the Brézet business park in Clermont Ferrand, expects delivery of the new facility in 2024, after which ANSM, the French medicines and healthcare products regulatory agency, will run all the requisite tests, checks and audits ready for go-live production in 2026. The project is part of the group’s strategy to replace its existing unit called ‘Bénac’ in nearby Périgny. The new facility, in La Rochelle’s Technocéan business park, will have 1,700 sq m of space, a big step-up from what is available today.
GERMANY - BIBERACH
Boehringer Ingelheim, Germany's second-largest drug manufacturer, has opened a new development centre for biotechnology in Biberach, Baden-Württemberg. The company is investing €350 million to build a laboratory the size of five soccer pitches. There, drugs are developed from cell cultures that are used, for example, to treat cancer or immune diseases. In the new building complex, the Biologicals Development Center, around 500 employees will produce active ingredients from laboratory scale to clinical studies.
GERMANY - MUNICH
ITM opens a new production facility in Neufahrn near Munich dedicated to the production of therapeutic radionuclides. ITM, short for Isotope Technologies Munich SE established this new facility which is the world's largest complex to produce Lutetium-177 - an innovative medical isotope used in cancer therapy. The facility's direct connection to Munich Airport enables the timely dispatch of the short-lived therapeutic isotopes and radiopharmaceuticals worldwide. The new location offers clean rooms, laboratories and offices that can be used by up to 200 employees for research, as well as radiopharmaceutical manufacturing and aseptic production with the highest quality standards.
IRELAND - WEXFORD
Becton Dickinson, the US medtech multinational simply known as BD, is growing its presence in Ireland. The company will invest €30 million to expand its manufacturing facility in Enniscorthy, Co Wexford, adding 3,700 sq m (40,000 sq ft) of capacity at the site. With the majority of new pharmaceutical drugs in the development pipeline being injectable drugs, BD said it has developed new injection devices to meet this growing segment of the medical device market.
UK - LONDON NW1
British Land has unveiled plans to redevelop Euston Tower into a life sciences and innovation hub. The move is in line with the company’s strategy to deliver life sciences space at the wider 13-acre (5.3 ha) Regent’s Place estate in London. Danish architects 3XN and London-based DSDHA are working on designs for the 36-storey tower within the Knowledge Quarter.
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Real estate transactions
GERMANY - COLOGNE
The bondholders of the European Science Park Group ("ESPG") approved changes to the terms and conditions of the Company's bearer bonds at the first creditors' meeting. The interest rate on the outstanding bearer bond was increased to 9.5% p.a. as of October 1, 2023, and the maturity date was extended to October 1, 2026.
NETHERLANDS - MEPPEL
Astellas sold its 46,337 sq m (500,000 sq ft) manufacturing plant in Meppel to French CDMO Delpharm for an undisclosed price. The facility employs 332 workers producing tablets, capsules and granule medicines. Astellas employees at the site are expected to become part of the Delpharm workforce and the CDMO will continue to manufacture the same products as before to ensure uninterrupted supply.
UK - CAMBRIDGE
Marshall Airport in Cambridge is up for sale and has been pitched to a handful of high-profile life sciences developers. The site offers the potential for between 5 million sq ft (465,000 sq m) and 6 million sq ft (557,000 sq m) of science-led business space. Currently owned by Marshall Aerospace and Defence Group, the site forms part of the government’s vision for a “Silicon Valley” in the OxCam Arc and several investors and developers, including Stanhope, Landsec and British Land, are understood to have shown interest.
UK - CAMBRIDGE
At Unity Campus, regional property investor and developer Howard Group has leased the entirety of building A2 (24,036 sq ft / 2,233 sq m), comprising fitted lab space, to Domainex the drug discovery contract research organisation (CRO). Completion is due in December 2023.
UK - STEVENAGE
UBS Asset Management and Reef Group’s proposed £900m (€1,046 million) life sciences campus in Stevenage, adjacent to GSK’s existing global R&D facility, has been granted planning permission. The development will provide 1.6 million sq ft (148,657 sq m) of laboratory, research, manufacturing and office space for up to 5,000 staff. As part of the agreement, GSK will gift land at the new campus to Stevenage Bioscience Catalyst (SBC) to expand the campus and further accommodate start-ups and entrepreneurs. The 15-building campus will be named ‘Elevate Quarter’. Construction is expected to begin later this year with completion of Phase 1 due in Q4 2025.
The bondholders of the European Science Park Group ("ESPG") approved changes to the terms and conditions of the Company's bearer bonds at the first creditors' meeting. The interest rate on the outstanding bearer bond was increased to 9.5% p.a. as of October 1, 2023, and the maturity date was extended to October 1, 2026.
NETHERLANDS - MEPPEL
Astellas sold its 46,337 sq m (500,000 sq ft) manufacturing plant in Meppel to French CDMO Delpharm for an undisclosed price. The facility employs 332 workers producing tablets, capsules and granule medicines. Astellas employees at the site are expected to become part of the Delpharm workforce and the CDMO will continue to manufacture the same products as before to ensure uninterrupted supply.
UK - CAMBRIDGE
Marshall Airport in Cambridge is up for sale and has been pitched to a handful of high-profile life sciences developers. The site offers the potential for between 5 million sq ft (465,000 sq m) and 6 million sq ft (557,000 sq m) of science-led business space. Currently owned by Marshall Aerospace and Defence Group, the site forms part of the government’s vision for a “Silicon Valley” in the OxCam Arc and several investors and developers, including Stanhope, Landsec and British Land, are understood to have shown interest.
UK - CAMBRIDGE
At Unity Campus, regional property investor and developer Howard Group has leased the entirety of building A2 (24,036 sq ft / 2,233 sq m), comprising fitted lab space, to Domainex the drug discovery contract research organisation (CRO). Completion is due in December 2023.
UK - STEVENAGE
UBS Asset Management and Reef Group’s proposed £900m (€1,046 million) life sciences campus in Stevenage, adjacent to GSK’s existing global R&D facility, has been granted planning permission. The development will provide 1.6 million sq ft (148,657 sq m) of laboratory, research, manufacturing and office space for up to 5,000 staff. As part of the agreement, GSK will gift land at the new campus to Stevenage Bioscience Catalyst (SBC) to expand the campus and further accommodate start-ups and entrepreneurs. The 15-building campus will be named ‘Elevate Quarter’. Construction is expected to begin later this year with completion of Phase 1 due in Q4 2025.
That's it for now. Our next edition will arrive in two weeks.