Breakthrough Properties is set to kick off the construction of Vitrum in Cambridge after securing a £104m loan from BentallGreenOak.
The life sciences building, on the 21-acre St John’s Innovation Park, secured conditional planning in November last year.
This was the first permission to be granted for a new commercial building in the north-east Cambridge area since July 2022.
Breakthrough, a joint venture of global developer Tishman Speyer and biotechnology investment firm Bellco Capital, will be transforming the 1.8-acre site into a 175,000 sq ft laboratory facility, designed by architects Henning Larsen.
The building is targeting BREEAM Excellent certification, with a view to achieving BREEAM Outstanding. It is also aiming for WELL Platinum, WiredScore and ActiveScore accreditations and net zero carbon in both construction and operation.
Completion is expected in 2026.
Tom Renn, senior vice president for acquisitions and development at Breakthrough, said: “With Vitrum by Breakthrough, we are creating an environment for biotechnology companies that rely on modern, flexible lab spaces to advance scientific discovery.”
Martin Sheridan, managing director at BentallGreenOak, added: “This deal represents our first UK life sciences financing, and we expect to participate in more opportunities this year with our confidence in the sector remaining high.”
Image from Breakthrough
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