Kadans has added two further buildings at Abingdon Science Park, Oxfordshire to its Pan-European science park portfolio. The assets, Monarch House and Penlon House were acquired from two separate private clients.
The two buildings sit adjacent to Kadans existing ownership of The Science Quadrant. Monarch House and Penlon House total c.50,000 sq ft. As part of the acquisition Kadans will be renovating Monarch House and providing new, high quality laboratory and office accommodation.
Penlon House is 100% let to world renowned medical device company Penlon. Penlon was established in Oxford in 1943 and develops, manufactures, and exports anaesthesia and other medical products to over ninety countries worldwide. Penlon played a critical role in the covid-19 pandemic response manufacturing is ESO 2 emergency ventilators from its site in Abingdon.
Abingdon Science Park is one of the leading locations in Oxfordshire for science and technology innovation. Set in an attractive, landscaped location to the south of Oxford the park offers a variety of accommodation to suit companies at all stages of their development. Kadans is bringing forward new laboratory and office accommodation on the park to support the needs of growing businesses in Oxfordshire.
James Sheppard Commercial Director (UK & Ireland) said: ‘We are delighted to be expanding our footprint at Abingdon Science Park. Oxfordshire is a key location for science and technology development. By controlling the arrival at Abingdon Science Park we can further optimise the site and create a flourishing ecosystem. The addition of these two buildings allows us to better deliver the Kadans ecosystem and real estate proposition into one of Europe’s leading life science markets.’
Jon Silversides, Partner, Commercial, Carter Jonas, said: "Oxford is the UK’s leading hub for innovation, and its life sciences market continues at a pace with increasing demand from investors. We are extremely pleased to have harnessed this demand, working with our clients to secure the sale of these assets - both of which were off-market transactions. The Kadans team has an opportunity to unlock the additional potential in these buildings and drive forward Oxfordshire’s ambition to support and advance further meaningful connections with real estate and the wider life sciences industry.”
Lucy Young, Associate, Bidwells comments: “As the post-Covid19 recovery continues, investor appetite for life science assets remains strong, so we are delighted to have secured for Kadans two more buildings to add to their existing ecosystem at this leading Oxfordshire research and development location. Bidwells’ own recent research found more than £5bn of capital is currently seeking a home in the Oxford-Cambridge Arc’s science and technology property market, ensuring continued strong demand for space in the best locations, such as Abingdon Science Park, in 2021 and beyond.”
With the acquisition of The Quadrant, Oxfordshire, the Kadans portfolio now comprises of over 40 buildings and numerous projects under development in the Netherlands, the United Kingdom, Germany and Spain. Kadans aspires to partner with universities and organizations to create one strong knowledge-sharing ecosystem of science parks across Europe.
Kadans was supported in this transaction by Bidwells with Mills & Reeve acting as legal advisors for Kadans. Carter Jonas and Knights plc (legal) advised both vendors through the transaction.