This acquisition continues Kadans’ growth in Cambridge following its acquisition of B900 at the Babraham Research Campus in April 2019.
Merlin Place is located opposite the entrance to Cambridge Science Park and a short walk from the recently opened Cambridge North train station. The building is currently a 29,135 sq ft office building becoming vacant in 2022. After gaining vacant possession Kadans will deliver, subject to planning, a significant new statement building with laboratory and office accommodation.
Cambridge is a global centre of excellence in science & technology innovation. Anchored by the world renowned University of Cambridge, the cluster has attracted some of the world’s leading technology and pharma companies. The Cambridge cluster has more than 5,300 knowledge-intensive firms employing more than 67,000 people which generate £18 billion in turnover.
James Sheppard, Commercial Director (UK & Ireland) said: "The acquisition of Merlin Place further strengthens Kadans’ footprint in the UK in one of the critical science and innovation markets. The redevelopment of Merlin Place will add some much needed space to supply to the Cambridge laboratory market and help alleviate some of the demand. The opportunity to build a significant, statement asset in this gateway location was too good to miss. We look forward to working with local ecosystem partners to deliver a high quality laboratory focused asset."
“Merlin Place has performed well for our client reflective of the strong Cambridge market we have enjoyed. Kadans performed impeccably during its purchase and will be the ideal party to redevelop and operate an exciting new Science & Tech scheme in the coming years.” Saul Western, Partner, Bidwells Capital Markets, the vendor’s agent.
“It was a pleasure to work with Kadans on this transaction which represents an excellent strategic purchase at the northern gateway to Cambridge. We look forward to working with them in bringing forward a landmark building for the R&D sector here that befits the prominence of the site.” Liam Nicholls, Partner, Creative Places, the buyer’s agent.
Expanding the future
With the acquisition of Merlin Place, Cambridge, the Kadans portfolio now comprises of over 45 buildings and numerous projects under development in the Netherlands, United Kingdom, Belgium, France, Germany and Spain. Kadans aspires to partner with universities, venture capital firms and organizations to create one strong knowledge-sharing ecosystem of science parks across Europe.
Kadans was supported in this transaction by Creative Places and Mills & Reeve acted as legal advisors. Bidwells and Birketts (legal) advised the vendor