Development Securities PLC today announces that it has signed a pre-let agreement with Takeda Cambridge Limited (TCB), the UK research subsidiary of Takeda Pharmaceuticals Company, a leading Japanese pharmaceutical company, for a 42,000 ft² (approx. 3900 m²) Research and Development building on Cambridge Science Park. On behalf of land owner, Trinity Hall, and in its role as development manager, Development Securities has secured outline planning permission for 133,000 ft² (approx. 12,356 m²) of laboratory and research space across three buildings named 420 430 and 440 CSP
TCB is an existing occupier at Cambridge Science Park and will expand to take the whole of building 430 CSP for which detailed planning permission has been secured. Construction will commence in February 2014 and the building is expected to be completed by Q2 2015. Interest in the remaining two buildings is strong.
Julian Barwick, Executive Director, Development Securities said: “Our development at Cambridge Science Park will see us deliver the last three undeveloped plots on the site and we are delighted to be kick starting the development. There is a good level of interest in the remaining two buildings reflecting the strength of the Cambridge market and we are seeing occupier demand improve not only here but also at our 50-acre Cambourne Business Park project.”
Source: Development Securities