Market Leads & Opportunities
BioMed unveils £850m investment plans
Blackstone portfolio company BioMed Realty has unveiled plans to create about 800,000 sq ft of lab space after acquiring two sites in Cambridge in a move which could support thousands of jobs.BioMed has bought Cambridge International Technology Park (CITP), a 15-acre site on Fulbourn Road, from Abstract, along with a 27-acre land plot at Granta Park from The Welding Institute (TWI). The proposed new sites are still subject to planning consent and BioMed’s investment is estimated to be worth about £850m.The move would double the company’s current life sciences real estate in Cambridge and support the creation of up to 2,700 jobs.
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