Kadans Science Partner expands Cambridge presence with acquisition of Merlin Place
Kadans Science Partner has added Merlin Place in Cambridge to its Pan-European portfolio. The asset was acquired from a private investor and continues Kadans’ growth in Cambridge following its purchase of B900 at the Babraham Research Campus in April 2019.
Kadans was supported in this transaction by Creative Places and Mills & Reeve acted as legal advisors. Bidwells and Birketts (legal) advised the vendor.
Merlin Place is located opposite the entrance to Cambridge Science Park and a short walk from the recently opened Cambridge North train station. The 29,135 sq ft office building becomes vacant in 2022. After gaining vacant possession Kadans will deliver, subject to planning, a significant, new, statement building with laboratory and office accommodation.
The Kadans portfolio now comprises of over 45 buildings and numerous projects under development in the Netherlands, United Kingdom, Belgium, France, Germany and Spain.
Kadans aspires to partner with universities, venture capital firms and organisations to create one strong knowledge-sharing ecosystem of science parks across Europe.
James Sheppard, Kadans’ Commercial Director (UK & Ireland) said: ‘The acquisition of Merlin Place further strengthens Kadans’ footprint in the UK in one of the critical science and innovation markets.
“The redevelopment of Merlin Place will add some much needed space to supply to the Cambridge laboratory market and help alleviate some of the demand. The opportunity to build a significant, statement asset in this gateway location was too good to miss. We look forward to working with local ecosystem partners to deliver a high quality laboratory focused asset.”
Liam Nicholls, Partner, Creative Places, the buyer’s agent, said: “It was a pleasure to work with Kadans on this transaction which represents an excellent strategic purchase at the northern gateway to Cambridge. We look forward to working with them in bringing forward a landmark building for the R&D sector here that befits the prominence of site.”
Saul Western, Partner, Bidwells Capital Markets, the vendor’s agent, said: “Merlin Place has performed well for our client reflective of the strong Cambridge market we have enjoyed.
“Kadans performed impeccably during its purchase and will be the ideal party to redevelop and operate an exciting new Science & Tech scheme in the coming years.”