Railpen buys £29m life sciences business park from AEW | New

Railpen has bought a life sciences business park from AEW UK REIT for £29m (€34.2m).

Britain’s railways pension plan said it acquired Eastpoint Business Park in Oxford and plans to reposition the asset to create a led flagship lab.

Eastpoint Business Park comprises five buildings with a net internal area of ​​74,823 square feet.

The acquisition represents Railpen’s first entry into the Oxford market. Railpen’s property portfolio includes a range of regional and London-based developments. With its existing holdings in Cambridge, Railpen has a significant presence in the Oxford-Cambridge arc.

Alistair Dawson, senior asset manager at Railpen, said: “We have actively sought investment in the life sciences sector in Oxford, a global geographic leader in scientific research, and have been able to act quickly once the good asset has become available.

“Eastpoint has met all of our criteria to deliver enhanced returns to our members through strategic acquisitions; it is in a prime location in a city that is oversubscribed by demand but undersupplied with quality stock, and the site has great potential for development.

“Combined, these factors mean that under our ownership it will become even more important to occupiers looking for space in Oxford’s life sciences sector.”

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