Welcome subscribers,
In this edition, we examine institutional investment in life sciences distribution assets. We also bring you news of deals (new buildings, extensions, sales, leases and financing) from across Europe. So read on and enjoy the coverage!
✅ France: oncology diagnostics in Marseille
✅ Sweden: biomanufacturing centre in Södertälje
✅ Switzerland: Roche opens R&D centre
✅ UK: Debenhams gets a makoever
Read more below for all the details.
Life sciences logistics: a growing investment frontier
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
FRANCE MARSEILLE
In June 2024, Euryvale on behalf of Pierval Santé delivered a building of 5,881 sq m (63,303 sq ft) in Marseille which houses the offices and research and production activities of medtech company Veracyte, world leader in oncology diagnostics. Construction began in November 2021 and the investment totalled €21.5 million (£18.2 million). Veracyte has agreed to a 12-year fixed lease.
GERMANY WIESBADEN
The Medical Research Center Delkenheim in Wiesbaden is currently under construction. It is being developed by FYRA Immobilienverwaltungs KG and is scheduled for completion in 2024. The building's total gross floor area is 10,427 sq m (112,235 sq ft), and the usable net floor area is 6,215 sq m (66,898 sq ft). It is designed as a research facility for companies in the medical and pharmaceutical sectors. The building has two- and three-storey blocks, housing up to 11 customisable units for office and laboratory use, including high-spec lab spaces (S1/S2) and research offices. A conference area accommodating up to 150 people, and a boarding house for researchers and temporary staff, are also part of the facility.
SWEDEN STOCKHOLM
In August 2024, AstraZeneca announced an investment of approximately US$135 million, or the equivalent of 1.375 billion Swedish krona (€121 million/£102 million) in its biomanufacturing centre in Södertälje. The money will help expand the functional area of the Södertälje campus by 50 per cent, adding 2,700 sq m (29,100 sq ft) to an existing building. Once the completion of the expanded facility is finalised, manufacturing will begin in the new section, possibly in the fourth quarter of 2027.
