Pre-let secured at Cambridge Science Park

6th November 2013

Development Securities signs pre-let with Takeda for 42,000 sq. ft. building at Cambridge Science Park

Development Securities PLC today announces that it has signed a pre-let agreement with Takeda Cambridge Limited (TCB), the UK research subsidiary of Takeda Pharmaceuticals Company, a leading Japanese pharmaceutical company, for a 42,000 sq. ft. Research and Development building on Cambridge Science Park. On behalf of land owner, Trinity Hall, and in its role as development manager, Development Securities has secured outline planning permission for 133,000 sq. ft. of laboratory and research space across three buildings named 420, 430 and 440 CSP.

TCB is an existing occupier at Cambridge Science Park and will expand to take 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.

Julian Barwick, Executive Director, Development Securities said: "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. 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."

For further information, please contact:

Lucy Grimble, Development Securities

020 7828 4777