A US stem cell research company has bought a 550,000 sq ft site in Cambridge for its new European headquarters.
Cognate Bioservices has bought the site in Sawston for around £15m from paper manufacturer Spicers.
New Hampshire-based Cognate already maintains a small laboratory in Cambridge but does not have a corporate office in Europe. Based on values in the area, the firm could invest more than £57m if it decides on a large revamp of the site.
The land includes office and warehouse space, plus agricultural land and a fishing lake. Out of a total of 514 acres, nine have planning consent for 141,000 sq ft of additional warehouse development.
Sawston is around five miles from Cambridge and two miles from the M11 motorway.
A source said: “Cognate wanted a site that was in a quiet location with good security outside the city centre. It was also important for it to be within easy reach of Stansted so that it is able to transport stem cells internationally.”
Cambridge has become a focal point for international stem cell research. The Wellcome Trust’s and Medical Research Council’s £8m Stem Cell Institute opened in the city in 2012.
It is also home to a number of biomedical companies carrying out stem cell research or supplying stem cell products, including Abcam, which is currently based at Cambridge Science Park, but is looking for 80,000 sq ft of office and production space.
Rents for lab space increased by £4 per sq ft in the 12 months to the end of June to £24 per sq ft. Prime office rents held steady at £34 per sq ft, while rents for “good” secondary offices rose from £28 per sq ft to £30 per sq ft, according to Bidwells.
Bidwells advised Spicers; DTZ acted for Cognate.
