6th Nov 2013 10:44
LONDON (Alliance News) - Real estate developer and investor Development Securities PLC Wednesday said it has signed a pre-let agreement with Takeda Cambridge Limited for a 42,000 square foot research and development building at Cambridge Science Park
Takeda is is a subsidiary of Japanese pharmaceutical company Takeda Pharmaceuticals Company.
Development Securities has also secured outline planning permission for 1330,00 square feet of laboratory and research space across three buildings at the site, named 420, 430 and 440 CSP.
Takeda an existing occupier at the Science Park will expand the whole of building 430 CSP for which detailed planning permission has been secured.
Construction will commence in February 2014 and the building is expected to be completed by Q2 2015. Interest in the remaining two buildings is strong.
"Our development at Cambridge Science Park will see us deliver the last three undeveloped plots on the site and we are delighted to be kick starting the development, Development Securities," Executive Director, Julian Barwick said in a statement.
"There is a good level of interest in the remaining two buildings reflecting the strength of the Cambridge market and we are seeing occupier demand improve not only here but also at our 50-acre Cambourne Business Park project," he said.
The stock was trading at 238.00 pence, down 0.50 pence or 0.2%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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