As announced on March 18, 2013, the investment in a £330 million (approx. €386 million) facility in Cambridge is part of the company’s move to create strategic global R&D centers in the UK, US and Sweden to improve pipeline productivity and to establish AstraZeneca as a global leader in biopharmaceutical innovation.

The purpose-built site in Cambridge will bring together AstraZeneca’s small molecule and biologics research and development activity, opening up opportunities to exploit the promise of small and large molecule combinations. The Cambridge Biomedical Campus will be the new UK home for biologics research and protein engineering carried out by MedImmune, AstraZeneca’s biologics arm. MedImmune already employs around 500 people at Granta Park, to the south east of the city.

The new site will also become the company’s largest center for oncology research as well as hosting scientists focused on cardiovascular and metabolic diseases, respiratory, inflammation and autoimmune diseases and conditions of the central nervous system. Work carried out in Cambridge will include medicinal chemistry and high-throughput screening and the facility will accommodate a number of AstraZeneca’s pre-clinical research capabilities. Other global functions will join the research and development teams at the new facility and Cambridge will become AstraZeneca’s corporate headquarters.

The Cambridge Biomedical Campus site is a growing and thriving hub for world-renowned biomedical activity. It is home to leading research, academic and healthcare organizations including the University of Cambridge School of Clinical Medicine, Addenbrooke’s Hospital, the Medical Research Council (MRC) Laboratory of Molecular Biology, the Wellcome Trust-MRC Institute of Metabolic Science and the Cancer Research UK Cambridge Institute. The AstraZeneca facility will occupy approximately 11 acres of the 70 acre campus, which benefits from a central Cambridge location and strong infrastructure links.

Pascal Soriot, Chief Executive Officer of AstraZeneca said: “Cambridge competes on the global stage as a respected innovation hub for life sciences and our choice of site puts us at the heart of this important ecosystem, providing valuable collaboration opportunities. Moving to the Cambridge Biomedical Campus means our people will be able to rub shoulders with some of the world’s best scientists and clinicians carrying out some of the world’s leading research – that’s a really exciting prospect. We hope that our move will contribute to the growing success of Cambridge.

“Today’s announcement also confirms AstraZeneca’s long-standing commitment to the UK and increases the chances that the next generation of medicines will be discovered here in Britain.”

David Willetts MP, Minister for Universities and Science at the Department for Business, Innovation and Skills, said: “AstraZeneca’s investment is excellent news for the UK life sciences industry. It strengthens our global competitiveness and supports our aim of making the UK the best place in the world for the discovery and commercialization of medical innovations. These are key themes of the Government’s life sciences strategy.”

Professor Sir Leszek Borysiewicz FRS, Vice-Chancellor of the University of Cambridge, said: “I am delighted with AstraZeneca’s choice. It is a measure of the world-class environment that Cambridge offers to knowledge-based industries and it reflects AstraZeneca’s commitment to making new discoveries. Over 1,500 companies in the Cambridge cluster of high-tech industries have found that proximity – to the University, to our NHS partners, and to each other – enables productive relationships and stimulates competition. As a global player, AstraZeneca will add tremendously to that environment and we look forward to the creative collaborations that will surely follow.”

Source: Cambridge Biomedical Campus

The post AstraZeneca selects new £330 million global R&D center and corporate headquarters in Cambridge (UK) appeared first on europe-re.

The arch-shaped property consists of a 53,419 m² office building. It is located in Paris´ well known office area, La Défense. Tishman Speyer is acting as the asset manager and equity partner.

Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “We are proud to support Tishman Speyer France in their project to renovate and re-position the Pacific Tower in the core area of La Défense. For pbb Deutsche Pfandbriefbank France is one of the key markets and we intend to further expand our relationship with Tishman Speyer, an experienced real estate investor and operator, in the development of value-added transactions.”

Roland Fuchs, Head of Paris Branch at Helaba said: “Following the core financings we already have provided to Tishman Speyer in France in the past years we are delighted to accompany our cross-border partner for such a benchmarking re-positioning project, evidencing both Tishman’s and our ongoing long term confidence in the French office market.”

Source: pbb

The post pbb and Helaba provide € 163 million credit facility to finance the acquisition of the Pacific Tower in La Defense (FR) appeared first on europe-re.

It is in this context that AXA Real Estate, the real estate arm of AXA Investment Managers, is pleased to announce that it is building up a dedicated team of high profile infrastructure professionals and has appointed Charles Dupont, to head the new infrastructure debt platform. Charles Dupont will report to Isabelle Scemama, who is AXA Real Estate’s Head of Real Asset Finance.

The appointment of AXA Real Estate allows AXA to leverage the strong experience and capabilities of AXA Real Estate’s long established Commercial Real Estate (CRE) debt team, which is already the largest investment manager in CRE debt, with a €7 billion debt platform.

On behalf of AXA, AXA Real Estate aims to underwrite infrastructure loans of up to €500 million backed by assets located in established global economies, with a primary focus on core European economies. AXA Real Estate has already identified a strong pipeline of potential investments.

Charles Dupont has over 15 years of experience in infrastructure markets, both within the private equity side, as well as with major operating infrastructure businesses. Mr Dupont is a graduate of the Ecole Polytechnique and the Ecole Nationale d’Administration. AXA Real Estate intends to further strengthen its Infrastructure team with additional appointments expected in the near future.

Commenting on this investment, Laurent Clamagirand, AXA Group Chief Investment Officer said: “Our decision to increase our exposure to the infrastructure debt asset class is in line with our global investment strategy. It meets our need to find long-term investments and diversify our credit portfolio in order to match the guarantees we offer our clients, and also demonstrates the role insurance companies can play in financing the real economy.”

Pierre Vaquier, Chief Executive Officer of AXA Real Estate commented: “Having established AXA Real Estate’s Commercial Real Estate debt platform in 2005, we are now able to leverage the success and size of that market leading business, to place ourselves at the forefront of the infrastructure debt investment market.

“Charles has extensive expertise in infrastructure with diversified experience from the various sides of the business. I am delighted that he is joining AXA Real Estate, complementing the skills of the teams we have built under Isabelle Scemama’s leadership and is able to contribute to the launch and subsequent development of this new infrastructure debt investment platform.”

Source: FTI Consulting

The post AXA announces €10 billion infrastructure debt commitment appeared first on europe-re.

The asset, developed in 2008, comprises 287,000 ft² (approx. 26,700 m²) of high specification warehousing and 16,000 ft² (approx. 1490 m²) of office space. It is situated on the Centrum 100 Distribution Park which benefits from its position on the A38, with excellent links to the M1 and M6 motorways. This distribution park is home to blue chip names including Argos, Boots, B&Q, Coors, DHL, Hobbycraft, Marmite, Palletforce, Pirelli, Rolls-Royce, Unilever and Waterstones.

From 1 August 2013, the warehouse will be occupied by Clipper Logistics Group on a 10 year lease. Clipper is a UK logistics company which services a wide range of retail clients such as John Lewis, Harvey Nichols and Asda. It will use this building for a major new contract with fashion retailer, SuperGroup Plc, to supply the Group’s national Superdry retail outlets and to support fulfillment of the Group’s internet operations, both in the UK and internationally, as the business continues to grow.

The use of distribution space for e-commerce is becoming an increasingly prevalent theme for our warehouses across the portfolio. We are working with a growing range of retailers, third party logistics providers and parcel courier companies to accommodate their space requirements for local, national and international distribution driven by internet sales, alongside more traditional routes to market.

Completion of the purchase is scheduled for 1 August 2013, upon Clipper’s take-up of its lease on the premises.

Commenting, Phil Redding, SEGRO’s Chief Investment Officer, said:

“This transaction provides an excellent opportunity to continue building our portfolio of prime ‘big box’ logistics assets in key transportation hubs and corridors. SuperGroup joining the existing concentration of leading retailers in Centrum 100 Distribution Park reinforces the attraction of this locality as an ideal position for retailers to service their national store networks and, increasingly, online orders, either directly or via local urban distribution warehouses providing last mile delivery.”

Source: Segro

The post SEGRO to acquire prime warehouse in The Midlands for £18.1 million (UK) appeared first on europe-re.

Prospect will be located at the intersection of Chervonotkatska and Chervogvardiyska streets and Gagarin Avenue in Kiev, 300 meters from the Chernihivska metro station. When it opens in fall 2014, the new shopping center will be the largest shopping venue on Kiev’s left bank.

The total area of the mall is 85,500 m², of which Auchan will occupy 11,000 m². The majority of the more than 1,500 parking spaces in Prospect will be located on the building’s roof to significantly increase pedestrian and park areas.

“This will be not only the largest complex in the left bank, but also a place for quality family time and affordable shopping,” said Arricano Group CEO Emil Budilovsky. “In Prospect, we are implementing a number of innovations which we plan to unveil closer to the opening. Today, our key achievement is having Auchan as a partner in this project. In fact, this is a continuation of our long-standing cooperation with Auchan, one of the worlds’ most respectable international retailers. Together, we will be able to contribute to both the infrastructure and the revenues of this shopping and entertainment facility.”

“With Prospect, our strategic objective is not only to create comfortable environment for tenants and their customers, but also to satisfy the existing demand for a high-quality shopping & entertainment venue in the left bank of Kiev. We see Prospect as a significant contribution to the development of the social infrastructure of the capital’s left bank as well.” added Budilovsky.

The design of the Prospect shopping center was created by Spain’s Chapman Taylor, known for a number of successful projects in this segment.

“Lease agreements have already been signed with a number of large tenants, including ‘Etoile (Brocard), Sportmaster, S’Oliver, In City, Yves Rocher, Il Molino, and Sushiya. The presence of an Auchan hypermarket in Prospect appears to be quite natural. The largest shopping and entertainment complex on the left bank needs to have a hypermarket from one of the leading international chains,” said Julia Schastliva, Head of Leasing for Arricano Group.

Source: Arricano

The post Auchan hypermarket to open in Prospect, Kiev’s new shopping and entertainment center (UA) appeared first on europe-re.

The transaction also includes an exchange of building rights. Wihlborgs will obtain office building rights in the Ideon district while Ikano will gain residential building rights in Limhamn.

Wihlborgs is to pay SEK 1,500 million (approx. €173.45 million) net and will take possession on 1 July 2013.

“The office market in Lund is extremely attractive in the long term and we see this as a good opportunity to add to our existing portfolio in Ideon”, says Anders Jarl, CEO, Wihlborgs Fastigheter AB.

“Wihlborgs already owns around 40,000 m2 in Ideon, northeast Lund, and with the acquisition of Ikano’s share we will become an even more powerful player in the Lund research and development cluster”, continues Anders Jarl. “The synergies from owning the whole of Ideon will give us a return of 6.5 % on the investment.”

“Ikano has been a part of Ideon from the start, 30 years ago. We have had an active role in the development of Ideon as we see it today, with the latest addition of Ideon Gateway. Having decided to focus on retail centers and housing we believe Wihlborgs is a highly suitable buyer and developer of the properties”, says Daniel Skoghäll, Managing Director Ikano Real Estate.

Leimdörfer has served as sole financial adviser to the seller Ikano Fastigheter in the transaction.

Source: Wihlborgs Fastigheter AB (publ)

The post Wihlborgs acquires whole of Ideon portfolio in Lund (SE) appeared first on europe-re.

Mall Stromstad will have about 20,000 m² spread over shops and dining spaces and 670 parking spaces in an attached garage.

The mall will be built along the Oslo Road at the northern entrance to Stromstad. The contract is a turnkey contract where the ground work starts in August 2013 and the mall will be ready for opening before the Easter shopping in 2015.

Source: Peab

The post Peab to build mall in Stromstad (SE) appeared first on europe-re.

The Silk Street development will create more than 1,300 jobs and features a Debenhams department store, 19 larger stores, a ‘green landscaped’ multi-story car park and hi-tech nine-screen
multiplex cinema.

The 18,500 m² scheme will give a major boost to the whole town center environment, providing a thriving mix of shopping and showcasing the town’s rich cultural heritage.

The plans approved overwhelmingly by the Council’s Strategic Planning Board last night, (June 12) include restaurants, a new public open space, known as ‘Mulberry Square’, a children’s recreation area off Exchange Street, known as ‘Roe Square’, high-quality streetscape design, as well as improved connectivity and pedestrian links to help make the town center more accessible.

The scheme – a joint venture between the Council and developer Wilson Bowden – is seen as the crucial keystone for the wider regeneration of Macclesfield and its economy.

The Silk Street scheme will help make the town center a magnet for local families and visitors from far and wide – not just for shopping at top-brand stores and the town’s varied and vibrant high-quality independent shops, but also to relax and spend the day and evening.

Councilor Michael Jones, Leader of Cheshire East Council, said after the decision: “This is really exciting and significant news – not only for the people and businesses of Macclesfield but for the whole of Cheshire East. It shows that Cheshire East is open for business and not prepared to stand still and manage decline. Macclesfield has not been achieving its potential – and this landmark decision is a tremendous vote of confidence in its future and will be a vital catalyst for the wider regeneration of the whole town and Macclesfield area.

“The Silk Street scheme is a once-in-a-generation opportunity to radically revitalize and boost the economy of Macclesfield and unlock its potential. It is a key part of the Council’s and community partners’ plans to regenerate the town’s rich silk heritage, creating a cultural quarter. The Council is also developing its ambitious mixed-use scheme for the South Macclesfield Development Area.

“We know that leading retailers are looking to invest in towns with the right environment – and the Silk Street scheme offers that. With major, innovative regeneration projects under way across the Borough to boost the local economy and local communities, these are exciting times to be in Cheshire East.”

Will Robinson, Retail Director at Wilson Bowden developments, said: “We’re thrilled that a decision has been taken to support Silk Street as part of the wider vision to create a thriving, vibrant town center in Macclesfield, offering something for everyone. We’re looking forward to starting work on the scheme and bringing the plans to life.”

It is estimated that the approved scheme would boost spending in Macclesfield town center by an estimated £40 million by 2016*.

Currently, 94.5% of the comparison goods retail spending of the Macclesfield catchment area takes place outside the town center.

As part of the vision to revitalize Macclesfield, the Council has previously allocated more than £250,000 for public realm improvements, focusing on the traditional heart of the town center around Market Place, Chestergate and Mill Street.

The Silk Street scheme incorporates improvements to highways and pedestrian routes as well as to the public realm outside the site’s boundary, including houses on Roe Street.

Source: Cheshire East Council

The post Cheshire East Council gives green light for £90 million revitalization of Macclesfield (UK) appeared first on europe-re.

Sponda’s holding in Russia Invest, which invests in property development projects in Russia, is 27%. Sponda’s share of the investment in the Okhta Mall shopping center project is approximately €14 million.

The total value of the shopping center investment is approximately €250 million. Construction is estimated to begin in late autumn 2013, after the final building permit is received. SRV will be responsible for the development, planning, leasing and construction of the shopping center. The shopping center will open in spring 2016.

The Okhta Mall shopping center project comprises a total area of some 144,000 m², of which approximately 75,000 m² will be leasable floor area. The shopping center will have four floors above ground and two underground levels for a hypermarket and parking space.

The Okhta Mall site is located in the immediate vicinity of St. Petersburg’s central business district, next to Okhta River. It will be the first shopping center with a hypermarket near the central business district. Preliminary leases have been signed for over 25% of the total leasable area. The target annual rental income for the shopping center is approximately €33 million.

The shareholders of Russia Invest, a property investment company established in September 2011, are Ilmarinen, Sponda and SRV with a share of 27% each, Etera with a share of 13% and Onvest with a share of 6%. The company’s investment capacity is €95.5 million, of which slightly over half is now being invested in the Okhta Mall shopping center project.

Source: Sponda plc

The post Russian Invest makes its first investment in Russia (RU) appeared first on europe-re.