US-based BioMed Realty Trust is to buy MEPC’s Granta Park in Cambridge for around £127m (€157.5m).
The 472,200 sq ft (43,868 m2) asset includes 11 buildings that are home to biotechnology and pharmaceutical companies such as MedImmune, PPD Global, UCB Pharma and Vernalis (R&D).
MEPC said in a statement that the disposal is part of its continuing strategy of releasing resources to focus on large-scale, mixed-use estates.
The acquisition is BioMed Realty’s first international life science real estate investment.
“We are extremely pleased and excited to announce our expansion of BioMed Realty’s best-in-class property portfolio with this investment in Cambridge, the premier life science cluster in the UK and arguably all of Europe,” said Alan D Gold, BioMed Realty’s chairman and CEO.
