Green light for laboratory space at Cambridge International Technology Park

BioMed Realty has received approval to deliver 55,700m² of purpose-built laboratory space on the 15-acre Cambridge International Technology Park site, which it acquired in September 2021.

According to market data tracked by BioMed, heightened tenant demand in the UK has driven space availability to essentially zero for functional lab and office space, potentially locking out promising life science companies that are looking to grow.

In response to significant tenant demand in Cambridge, BioMed has assembled a pipeline that will deliver up to one million square feet of additional Class A space for life science companies while helping the UK reach its potential of becoming a ‘scientific superpower.’

BioMed Realty CEO Tim Schoen said: “BioMed remains committed to investing in the UK by providing the mission-critical space that is needed to bring life-saving products and therapies to market and ensure the UK’s future success as a global leader in drug development.”

The development is targeting a BREEAM ‘Excellent’ rating and a notable net gain in biodiversity. Construction could begin in early 2023, with the first phase delivered in 2024.