Developer set to offload Cambridge life sciences hub
Gen Two Real Estate has appointed DTRE and Savills to find a new owner for a research and development hub scheme in Cambridge.
The 125,619 sq ft Alchemy scheme secured planning consent in November last year, with construction expected to start towards the end of this year.
Gen Two is seeking offers of more than £11m, reflecting £88 per sq ft on the consented scheme and £148 per sq ft on the existing industrial buildings.
Gen Two Real Estate has appointed DTRE and Savills to find a new owner for a research and development hub scheme in Cambridge.
The 125,619 sq ft Alchemy scheme secured planning consent in November last year, with construction expected to start towards the end of this year.
Gen Two is seeking offers of more than £11m, reflecting £88 per sq ft on the consented scheme and £148 per sq ft on the existing industrial buildings.
The proposals comprise the retention and reuse of two of the five existing two-storey buildings located on a 5.2-acre site in Fowlmere to provide flexible labs and offices. Overall, the campus will comprise eight self-contained labs ranging in size from 10,000 sq ft to 20,000 sq ft which could be combined to provide larger headquarter facilities.
Gen Two has also upgraded power to the site to 2.5MVA to target biotech occupiers and scale-up companies.
The scheme is aiming to secure BREEAM Excellent certification upon completion, which is expected towards the end of 2026. Bidwells and DTRE were appointed earlier this year to lead the leasing strategy for the scheme.
Daniel Sterling, director at Gen Two, said: “We are extremely proud of our plans for the Alchemy campus in Cambridge, which, once complete, is set to be one of the most flexible lab spaces in Cambridge.
“We are continuing to have very positive initial discussions with prospective occupiers and, as such, are considering how we can deliver the space as quickly and efficiently as possible. This includes exploring a possible sale of the development, with capital to be recycled into growing our science and innovation portfolio and delivering standout life sciences buildings.”
Image from Gen Two
