Welcome subscribers,
In this edition, we examine Victoria House in London, a stunning example of a listed building being converted to life sciences use. Additionally, there are multiple examples of new builds, sales, leasing and financing activities across Europe. Keep reading!
✅ France: JP Morgan extends logistics asset
✅ Germany: Sanofi invests in Frankfurt
✅ Netherlands: FedEx opens life sciences hub
✅ UK: Crown Estate emphasises life sciences
Read more below for all the details.
Victoria House in London: an architectural gem converted to life sciences use
Read the full articleA message from our sponsor Backbone Connect:
Was this email forwarded to you? Did you know that you can subscribe to Life Sciences Real Estate and get access to all our resources?
New and extended assets
DENMARK ODENSE
As its medicines Wegovy (for obesity) and Ozempic (for diabetes) boom, Novo Nordisk moves towards a new facility with a significant land purchase in Denmark. In July 2024, Novo Nordisk purchased a 200-acre site in Odense, Denmark’s third-largest city. The company is set to kick off preparatory excavation work for a potential new production plant, according to Reuters.
FRANCE ORLÉANS
In Q2 2024 JP Morgan commissioned general contractor GSE to extend its logistics building in the Meung-sur-Loire logistics park, near Orléans. This extension aims to create two units of 12,000 sq m (129,200 sq ft) each. The building extends to 49,500 sq m (533,000 sq ft) and is dedicated to the storage, order preparation and distribution of healthcare products. This extension aims to meet the growth in the activity of the occupant, the company Alliance Healthcare France. The new units and office space of 1,087 sq m (11,700 sq ft) will be added to the initial site, bringing the total surface area of the logistics complex to 74,500 sq m (802,000 sq ft). Delivery is scheduled for February 2025.
GERMANY DARMSTADT
In June 2024, Merck announced an investment of €62 million (£53 million) at its Darmstadt headquarters in a new quality control building for its life science business. The facility will bring together approximately 135 employees across several departments into one collaborative state-of-the-art space. The nearly 10,000 sq m (107,640 sq ft) building is scheduled for completion by mid-2025. The new building is part of a wider investment programme at the Darmstadt site: Merck will invest a total of around €1.5 billion (£1.3 billion) here by 2025.
