British Land and AustralianSuper have completed their first pre-let lab space deal at Paper Yard, Canada Water, to Chemastery.
The start-up is taking circa 2,100 sq ft of space at the 33,000 sq ft modular scheme, which was designed by Hawkins\Brown and delivered in just nine months.
Mike Wiseman, head of office leasing at British Land, said: “The completion of Paper Yard is the first step to delivering much needed, highly sustainable lab and innovation space at Canada Water, and forms part of our vision to create a diverse and exciting neighbourhood rooted in innovation.
“Paper Yard uses modular design and construction which delivers rapid flexible solutions in just nine months, allowing us to respond to existing demand from companies like Chemastery, supporting their growth and evolution. The Canada Water masterplan seeks to work with its occupiers to provide incubation space to help them grow and ultimately expand across the masterplan and we are pleased to welcome Chemastery at such an exciting time for the wider sector.”
Paul Clark, head of European property at AustralianSuper, added: “We’re delighted to see the continued progress at Canada Water as the development plans unfold to create London’s first new town centre in 50 years. High-quality lab space is in short supply and forms an exciting part of the diverse mix of uses and tenants envisaged by the masterplan.”
Dr Anna Andreou, co-founder and CEO at Chemastery, said: “We are thrilled to be part of the ambitious regeneration of Canada Water. Paper Yard presents a compelling proposition on account of its customisable and adaptable design, which provides the opportunity to grow and flex the physical spaces occupied to reflect the evolving and expanding needs of the business.
“We are excited to move into purpose-built premises that enable us to manufacture on-site and immediately broaden our product offering in amidst a vibrant, well-connected central London location.”
