Amgen coup in Cambridge’s largest Q1 office deal
LGIM Real Assets, advised by Bidwells, has welcomed world-class life sciences business Amgen, advised by Cushman and Wakefield, to Cambridge’s only Platinum-rated Wiredscore building – representing the largest office letting in the UK technology cluster in Q1 2020.
California giant Amgen, is taking three floors across 35,000 sq ft on a 10-year lease within Cambridge Science Park, Europe’s longest-serving and largest centre for commercial research and development.
This space has been comprehensively refurbished and extended as part of LGIM Real Assets’ wider asset management strategy – setting a new standard for commercial space connectivity in Cambridge and making it best in class for all features of digital infrastructure.
Andrew Mercer, Office Sector Lead at LGIM Real Assets, said: “We are delighted that Amgen has agreed to take a 10-year lease in Cambridge Science Park.
“This letting, agreed during the current lockdown on the March quarter-day, demonstrates the continued interest we are seeing in commercial space within technology and life science centres, despite on-going uncertainty in the wider market.
“Many such centres are home to companies playing an active role in the fight against coronavirus, whether that’s through lending their facilities for testing or helping to develop the country’s diagnostics infrastructure.”
Amgen first established a presence on the Cambridge Science Park more than 25 years ago; it is relocating from neighbouring 214 and 240 Cambridge Science Park.
LGIM Real Assets plans to remodel and refurbish both soon-to-be-vacant buildings to the same high standard as 216 CSP, with plans to begin work in 2021.
Surveyor in Bidwells’ Business Space Agency team, George Craig, said: “It’s the biggest Cambridge deal of Q1 2020 and completed during a week of unprecedented global uncertainty so it’s a real demonstration of the quality of Legal and General’s development and continued confidence in Cambridge Science Park and its enduring science and technology sector.”
LGIM Real Assets is a division of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor.
LGIM manages £1.2 trillion in assets (as at December 31, 2019), working with a range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
LGIM Real Assets has AUM of £30.8 billion and is one of the largest private markets investment managers in the UK.