Gen Two Real Estate has exchanged on a 1003m high-quality life sciences building, ahead of completing on the deal later this year. This will mark the company’s second acquisition in Whittlesford, Cambridge, and its third within the South Cambridge biotech cluster, as the company continues to grow its portfolio in the life science real estate sector.
1 Lion Works in Whittlesford is currently let to Alchemab Therapeutics, which acquired the lease from Avacta Therapeutics in 2022 to capitalise on a bespoke lab space. After acquiring the lease, Alchemab Therapeutics carried out an extensive renovation of the building with specialist fit-out contractor COEL to ensure it was fit for purpose and benefitted from strong sustainability credentials.
Daniel Sterling, co-founder of Gen Two Real Estate, said: “Today’s announcement showcases our commitment to continuing to grow our portfolio of high-quality and well-located life science assets across Cambridgeshire. This acquisition will not only increase our holding within the south Cambridge science cluster, but also at Lion Works more specifically, where our Recodery building is also located, where we are establishing a BioTech hub.”
Alexander Hewitson, Alchemab’s Senior Vice President of Operations & Chief of Staff, said: “Our facility at Whittlesford marked a significant milestone in the evolution of our growing business, and we look forward to working collaboratively with Gen Two on its journey and in enhancing our collective sustainability initiatives.”
The building is situated in a prime location, located immediately next to Whittlesford Parkway train station, which provides direct links into Cambridge and London.
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