Park News
29 June 2006
BUSINESS WEEKLY
CHESTERFORD RESEARCH PARK LEADS THE WAY
According to a recent global biotechnology report, the UK biotech sector is in good health, with products, revenues, financing and corporate activities leading Europe. The last twelve months have been marked particularly by biotech acquisitions from large pharmaceutical companies, and merger and acquisition activity in the Cambridge biotech cluster has been rife.
This is nowhere more evident that at Chesterford Research Park, which has seen two of its tenants BioFocus and Arakis undergo major changes and acquisitions recently, to the benefit of the UK and Cambridge biotech community. In June, Galapagos announced it is acquiring the drug discovery services operations of Discovery Partners International, which positions BioFocus (its drug discovery services division) as a top five player worldwide. And in August last year, Arakis was acquired by leading Japanese biopharmaceutical company Sosei Co. Ltd, a move which has led the company to take additional space at the Park, in order to expand the Group's R & D base in Europe.
Martin Sylvester, Director at the Churchmanor Estates plc, joint developer of Chesterford Research Park, comments, "Cambridge has always led the way within the UK biotechnology sector and, the well established South Cambridge cluster, within which Chesterford Research Park sits, is a collaborative and exciting business environment within which to work.
"We at Chesterford are mindful that we have a responsibility to help encourage the growth and development of biotechs and encourage even further investment in R & D, by providing the right environment, facilities, buildings and flexible property packages that will meet their changing needs. We have invested heavily in our central facilities building The Nucleus, which opened last year. Our ambition is to provide first class accommodation and facilities that will enable firms to expand, almost on demand, and attract and retain high level staff. Our next stages of development will offer the market an even more exciting property package."
When Morley Fund Management and Churchmanor Estates plc acquired the Chesterford site in 2000, it was a 250 acre single corporate research and development facility, comprising some 350,000 sq ft (32,515 sq m). The developers have put in place the infrastructure, facilities, management and travel arrangements to be able to bring forward 600,000 sq ft (55,740 sq m) of laboratory accommodation, specifically designed for biotech and research companies.
This year alone, the developers are bringing forward 65,000 sq ft (6,040 sq m) of development at the Park. Work has started on the refurbishment of the existing Mansion House into smaller start up units and the Emmanuel Laboratory, a speculative 41,400 sq ft (3,846 sq m) shell and core laboratory building.
The Mansion House units, which will be available from Autumn 2006, are particularly suitable for start up R & D companies and larger organisations, looking for flexible lease occupation. Units start at around 200 sq ft (19 sq m), although suites can be combined. The units will be available on simplified leases to include rent, rates, service charges and utilities. Companies will also be able to buy additional services from a menu of options, for example catering and meeting room hire. They will also have access to the unrivalled facilities provided at Chesterford including the gymnasium, health suite, 7 hole par three golf course, shop, restaurant, arboretum, chauffeur driven transport, coffee and social bar.
The speculative Emmanuel Laboratory will provide 41,400 sq ft (3,846 sq m) of shell and core laboratory space over two floors. The building contains a separate plant area on the second floor and has been designed to be split either vertically or horizontally, providing up to four separate 10,000 sq ft (929 sq m) independent laboratories if required. External goods delivery stores, cycle parking, car parking and landscaping will also be provided.