TusPark takes £55m loan on Cambridge Science Park

TusPark has secured a £55m investment loan for its slice of Cambridge Science Park. The £55m loan has been provided by pbb Deutsche Pfandbriefbank and will be used by TusPark to expand its portfolio. TusPark is part of China’s Tus-Holdings, which has its roots in Tsinghua University. It is the world’s largest science park owner and operator, with more than 215m sq ft of space under management across 80 cities worldwide. In 2019 TusPark bought three newly developed properties totalling 165,000 sq ft at the science hub from Trinity College. Since then, TusPark has let the space to Frontier Developments, DisplayLink, Mogrify and Novogene. One of the properties is one of the first bio-incubator buildings in Cambridge Science Park. Cambridge Science Park was the first science park to be developed in the UK in the 1970s and is anticipated to grow to 2.5m sq ft over the next 10 years. Kevin Lin, president of TusPark UK, said: “This financing enables TusPark to further grow its portfolio.” JLL advised TusPark. David Barry, senior director for debt and structured finance at JLL, said: “The life science sector is proving to be a strong asset class, and this was evidenced by the level of demand from lenders. “We are delighted to have sourced and secured an attractive long-term debt financing from Deutsche Pfandbriefbank which enables TusPark to execute its business plan for its long-term ownership in Cambridge Science Park.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews