Millions secured as well as new Swedish tenant at soaraway Milton Park

The Federated Hermes financing replaces a previous £200 million mortgage loan, which recently matured. The transaction was led by existing lender Barings Real Estate, part of Barings LLC, with the support of HSBC UK.

In the heart of Science Vale, Milton Park is managed by Federated Hermes and held in a joint venture on behalf of major institutional clients, including CPP Investments which has a 50 per cent interest. The park is home to more than 280 organisations, from startups to leading global science and technology companies across life science, green energy, healthtech, advanced engineering, technology, agritech and professional services.

Covering over 300 acres with nearly three million square feet of floor space across 87 separate buildings, Milton Park is one of the largest single ownership innovation campuses in Europe. Accommodation includes offices, research facilities, mid tech space and over 800,000 sq ft of laboratory space and a growing range of amenities. Milton Park is developed by MEPC, the specialist real estate development platform of Federated Hermes.

The transaction was supported by a consortium of enterprises, including JLL as debt adviser, Bryan Cave Leighton Paisner LLP (legal counsel on the financing) and Addleshaw Goddard LLP advising on real estate legal matters. HSBC UK Bank Plc acted as a lender, while HSBC Bank Plc served as the hedging counterparty. Legal representation for Barings and HSBC UK was provided by Stephenson Harwood.

Milton Park has also welcomed Inify Laboratories Limited, which speeds up prostate cancer diagnosis, as the second occupier at its award-winning Nebula development.

Inify’s custom-built, AI-enabled laboratory will help it to meet the UK’s rising demand for cancer diagnostics, while easing pressure on NHS pathology services.

The company’s move to Milton Park aims to replicate its recent success in Sweden, which sees it handle around 80 per cent of Stockholm’s and 10 per cent of the nation’s total number of prostate biopsies.

Compared to NHS patients often waiting two to three weeks for results in the UK, Inify’s tests in Sweden guarantee an answer in five working days or less, with an average turnaround of just 3.5 days.

As well as the speed of results, Inify says its proprietary AI software, INIFY® Prostate, has been proven in clinical studies to deliver world-leading accuracy, with >99 per cent sensitivity and 97 per cent specificity. Every case is then reviewed by a specialist pathologist before a final report is issued.

Named Best Commercial Building at the OxProp Awards 2025, Nebula’s flexible layout has also allowed Inify to create a more efficient digital workflow for its teams, which will help to optimise image quality, reporting speed and accuracy of its tests.

Kate Bucknall, Managing Director of Inify UK, said: “Our new base at Milton Park is a real milestone in our mission to improving cancer care and reducing delays in patient pathways. Our recent success shows that digitised, AI-supported workflows can halve the time from biopsy to diagnosis, which has been transformative for both patients and clinicians in Sweden.

“With around 120,000 prostate biopsy patients requiring support every year, the UK’s demand for diagnostics is around six times larger than in Sweden. In the UK, our ageing population, growing awareness and a national shortage of pathologists and biomedical scientists mean we have a significant bottleneck in prostate diagnosis.

“We want to tackle that challenge head-on in our new facility, by giving patients answers as soon as possible, while providing quality and efficiency gains across the pathway. The Inify lab will have capacity to handle a volume similar to the country’s total demand.”