An extensive renovation of laboratories and office space in the heart of Cambridge’s science cluster
Client
BioMed Realty
Size
97,000 sq ft
Value
£22m
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In a prominent location in Granta Park, we were instructed to revitalise the existing Portway Building and attract new tenants to generate income. In addition to modernising the facilities into exceptional laboratories and office space, the client wished to reduce its ecological footprint.
The client wished to reposition its existing asset to provide a multi-let facility that exceeded market expectations, attracted world-class tenants and contributed to the wider science cluster found in the region. As specialists in the science and technology sector, we were approached to deliver this development for its portfolio.
The newly renovated building needed to encourage social interaction between tenants, support the concept of knowledge sharing in the scientific community, and enhance the existing partnerships that BioMed Realty had with its clients.
The project was first designed and procured during the uncertain conditions associated with Brexit and the Covid-19 pandemic. As part of the wider strategy to enable multiple tenants, the project never assumed early letting of the space as a direction from the client team. Once interest was registered and Heads of Terms agreed, we developed contractual routes that enabled early tenant access, generating income for the client sooner than anticipated.
The asset has a significantly improved EPC rating, achieved a Wired Score of ‘Gold’ and an anticipated BREEAM rating of ‘Excellent’.
It has created 351 jobs, generated income and contributed £22m to the UK economy during construction, and £18.6m per annum thereafter.
Bidwells' diligent and attentive approach, experience and expertise in the sector were valuable attributes that assisted with the successful delivery of the project.
Orestis Tzortzoglou, BioMed Realty
