Park News
10 March 2006
Arakis to Expand at Chesterford Research Park
Arakis, a wholly owned subsidiary of Sosei Co. Ltd, has agreed terms with joint developers of Chesterford Research Park - Morley Fund Management and The Churchmanor Estates Plc - to take a new building at the Park.
Stuart Gibson, Director of Finance of Arakis comments, "Since we were acquired by Sosei in August 2005, significant progress has been made to successfully integrate the two companies. Additional space is required to continue the expansion of the Group's R & D base in Europe as an integral part of the Sosei's strategic vision of becoming a global top ten biopharmaceutical conpany. We are delighted that the Park has been able to accommodate these needs and allow us to more than double our floor area in a purpose built office building. The office will be the base for the Group's operations in Europe, providing an excellent environment for research, development and commercial activities".
Arakis will occupy Building 400, a 15,000 sq ft purpose-built R & D purpose-built R & D office building, located opposite the Park's central facilities building, The Nucleus. It will provide two floors of offices, plant room and external stores, plus 42 car parking spaces. The agreed rent is approximately £20 psf on a 15 year lease. Work will start on the new facility in March 2006 and is expected to be completed by February 2007.
Martin Sylvester, Director at the Churchmanor Estates plc comments, "Back in 2000, Chesterford was a 250 acre single corporate research and development facility, comprising some 350,000 sq ft. We have put in place the infrastructure, facilities, management and travel arrangements to be able to bring forward 600,000 sq ft of laboratory accommodation, specifically designed for research companies such as Arakis working in the biotech sector. We are delighted that Arakis has chosen to expand at the Park. This is a very significant investment for Sosei and demonstrates its commitment to R & D in Europe."
Arakis moved to Chesterford Research Park 2001.
Morley Fund Management and The Churchmanor Estates plc were advised by Carter Jonas and CB Richard Ellis. Arakis was advised by Robert Alston.