Barwood Capital has partnered with Gen Two Real Estate to acquire two laboratories and adjoining industrial units in Whittlesford, South Cambridge, for £12.8m.
The units, which offer 38,500 sq ft, are let to Alchemab Therapeutics and Constructive Bio. Barwood and Gen Two intend to reconfigure the units into best-in-class fitted laboratory space.
Jonathon Ellerington, investment director at Barwood, said: “The acquisition provides an excellent opportunity to reconfigure underutilised properties in a key, strategic location, and in a sector which is underpinned by strong underlying tailwinds. In addition to the quality of the existing laboratory space, this is an excellent opportunity to reconfigure additional units into sustainable, best-in-class laboratory space in the leading BioTech and life sciences cluster.
“The refurbishment and reconfiguring of these units will also serve to improve the area and provide employment opportunities. It will also support life sciences businesses to grow through providing exceptional laboratory space at a time when the market is starved of supply.”
Daniel Sterling, co-founder of Gen Two Real Estate, added: “Teaming up with Barwood is a fantastic step forward for our business, allowing us to create a new TechBio hub at Whittlesford Parkway Station. Providing high quality self-contained units located in the heart of the South Cambridge science cluster attracting occupiers from surrounding world leading science parks.
“Since developing The Recodery back in 2023 for Constructive Bio it has been very satisfying to see the team grow into the space as well as successfully completing a Series A funding of $58m in September 2024.”
