CBRE Investment Management (CBRE IM) has acquired a 12,000 sq m new build development at Leiden Bio Science Park, the Netherlands, on behalf of an institutional investor. Financial details were not disclosed.
The project comprises a laboratory and office for housing Batavia Biosciences BV, which will produce vaccines and medicines against infectious diseases. Construction is scheduled to start in April 2023 with completion expected at the end of 2024.
Provast will develop the site in line with the BREEAM-NL Excellent New Construction certificate for sustainability. This means it will be a completely gas-free and flexible building, among other highly sustainable specifications such as a PV installation on the roof. Located next to the A44 motorway, it was designed by Paul de Ruiter Architects.
Owen Clayton, director of transactions at CBRE IM, said: "We are very pleased with the acquisition of this building at the Leiden Bio Science Park.
“This park is one of the most important life science clusters in Europe and will further develop into a multifunctional innovation hub in the coming years. Life science has proven itself in recent years as a strong investment category."
Provast was advised commercially by CBRE and legally by Loyens & Loeff. CBRE Investment Management was advised commercially by Savills, legally by CMS and technically by CBRE Development Services.