Blackstone's BioMed Realty Revolutionizes UK Life Sciences with Expansion Plans

CEO Khai Intela
BioMed Realty, a portfolio company of Blackstone, has recently announced its ambitious plans to double the size of its UK life sciences portfolio. With the acquisition of two new sites in Cambridge, BioMed Realty aims...

BioMed Realty, a portfolio company of Blackstone, has recently announced its ambitious plans to double the size of its UK life sciences portfolio. With the acquisition of two new sites in Cambridge, BioMed Realty aims to deliver approximately 800,000 square feet of additional high-quality purpose-built lab space. This expansion is set to significantly boost the UK's life sciences sector and create up to 2,700 new jobs.

Driving Innovation in the Life Sciences Sector

The UK's life sciences sector plays a crucial role in the country's economy, contributing over £80 billion to GDP each year and supporting 250,000 jobs. As the largest life sciences market in the UK, Cambridge is renowned for its research and innovation, particularly in areas like stem cell research and artificial intelligence. It is home to more labs than anywhere else in the UK, making it an ideal location for BioMed Realty's expansion plans.

Prime Minister Boris Johnson expressed his enthusiasm for the investment, stating that it will bring more high-skilled and future-facing jobs to the UK. He believes that Blackstone's BioMed Realty will contribute to the country's scientific advancements and research breakthroughs.

Meeting the Demand for Lab Space

The demand for lab space in Cambridge is booming, with all available spaces currently under offer. This surge in demand risks excluding promising start-ups from the market and impeding the growth of life sciences companies. BioMed Realty's acquisition of the Cambridge International Technology Park (CITP) and a land plot at Granta Park addresses this demand and offers much-needed space for technology, science, and knowledge-based companies to develop vaccines, create new treatments, and tackle global health challenges.

Commitment to Sustainability and Growth

Blackstone and BioMed remain dedicated to driving growth while prioritizing sustainability. Their aim is to deliver sustainable buildings that minimize energy and water consumption, support sustainable local transport initiatives, and attract new investments into the local economy. Since entering the Cambridge market in 2012, BioMed Realty has become the largest private owner of life science space in the area. Their existing facilities, such as the Babraham Research Campus and Granta Park, have fostered a vibrant life science ecosystem, accommodating companies at every stage of growth.

Bill Kane, President, East Coast & UK Market at BioMed Realty, emphasized the importance of state-of-the-art life science facilities in accelerating scientific research. He highlighted BioMed Realty's commitment to meeting the needs of the dynamic life sciences industry, enabling companies to incubate, scale up, and thrive. The new developments at CITP and Granta Park will not only advance Cambridge's reputation as a global research hub but also support the local economy.

Blackstone's Long-Term Investment in Life Sciences

James Seppala, Head of Real Estate in Europe at Blackstone, affirmed the company's commitment to the life sciences sector as one of their highest conviction investment themes. Together with BioMed Realty, they aim to provide high-quality spaces that facilitate the development and commercialization of life-saving products and therapies. By supporting the UK's vaccine and drug development efforts, Blackstone aims to secure the country's future success as a global leader in the field.

About BioMed's UK Portfolio

BioMed Realty is the largest private owner of life sciences space in Cambridge, UK. They currently support 22 life science companies at all stages through their Babraham Research Campus and Granta Park facilities, totaling 870,000 square feet. Granta Park, partly owned by The Welding Institute (TWI), hosts 30 of the world's largest life sciences companies and research organizations, including AstraZeneca, Pfizer, Illumina, and Cancer Research UK.

BioMed Realty's locations benefit from their proximity to renowned academic and research institutions, such as Cambridge University, as well as abundant talent pools and excellent transportation links. These factors make it an attractive destination for life science companies looking to attract and retain top talent.

BioMed Realty's expansion plans reflect Blackstone's long-term, perpetual capital investment strategy in the life sciences sector. With their extensive portfolio of mission-critical lab office spaces in the US and UK, BioMed Realty continues to lead the way in enabling over 250 clients to discover and advance the next generation of medicines and therapies.

BioMed Realty

BioMed Realty owns and operates 14 million square feet of mission-critical lab office space throughout the US and UK - helping 250+ clients discover and advance the next generation of medicines and therapies.

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