Canadian investor Cadillac Fairview, the real estate arm of Ontario Teachers’ Pension Plan, and leading UK developer and asset manager Stanhope PLC have agreed a joint venture partnership to purchase a 110,000 sq ft trio of properties within Cambridge Science Park, cementing their long-term commitment to the UK life sciences market.

Previously owned by L&G, the three-building campus at 194-198 Cambridge Science Park is set across 6.11 acres and is located in the ‘Cambridge Northern Cluster’. It is one of Europe’s most highly sought-after life science and technology campuses thanks to its unrivalled transport links, access to top talent from Cambridge University and thriving business ecosystem, with businesses ranging from spin-outs to multinationals. Working closely with the three existing tenants, Microsoft, Mundipharma (Napp Pharmaceutical) and CMR Surgical, the site also provides significant longer-term development opportunities.

The investment between Stanhope and Cadillac Fairview marks their second joint venture in prime life sciences campuses outside London this year, following a JV with Thomas White Oxford in March 2022 to deliver a £700m new global innovation district, Oxford North. Stanhope is also working with Cadillac Fairview at White City Place, London’s new creative and life sciences hub home to giants such as Novartis and Autolus, which Cadillac Fairview acquired in 2020.

David Camp, Chief Executive of Stanhope said:

“This acquisition is a further step in our strategy to build a premier life science portfolio. Existing assets include Oxford North and White City Place which are also in partnership with Cadillac. We are particularly pleased to be buying into one of Europe’s first and most important Science Parks.”

Jenny Hammarlund, Head of Europe and Managing Director at Cadillac Fairview said:

“Cadillac Fairview is thrilled to enter Cambridge with our partner, Stanhope. This acquisition is timely given our desire to continue to grow our life sciences portfolio and to find opportunities that allow for future development despite scarcity in the local market. It also complements our existing life sciences portfolio in Oxford, through Oxford North, and in London, through White City Place, so that we can develop innovation clusters and accommodate tenant requirements across the UK.”

ENDS

High-res images are available to download here, this will open in a new tab.

For further information please contact:

Stanhope press office: stanhope@londoncommunications.co.uk, this will open in a new tab

Janine Ramparas, Cadillac Fairview: janine.ramparas@cadillacfairview.com

About Cadillac Fairview

Cadillac Fairview (CF) is a globally focused owner, operator, investor, and developer of best-in-class real estate across office, residential, logistics, life sciences and mixed-use asset classes. As the real estate arm of Ontario Teachers' Pension Plan, which has $242 bn of AUM, CF currently manages in excess of $35 billion of assets across Europe and the Americas, with further expansion ongoing into Europe and Asia.

Internationally, CF invests in communities with like-minded partners, including Stanhope and Long Harbour in the UK, Lincoln Property Company in the U.S., and Multiplan in Brazil. The company's Canadian portfolio comprises 68 landmark properties, including the Toronto-Dominion Centre, CF Toronto Eaton Centre, Tour Deloitte, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre.

Continually striving to make a positive impact in communities where it operates by promoting social connection, growth, and a sustainable future, CF's Purpose is Transforming Communities for a Vibrant Tomorrow.

About Stanhope

Stanhope PLC is a property developer and asset manager based in London. Stanhope is a trusted partner that seeks to leave a positive legacy of sustainable buildings and urban places valued by its communities.

The company is known for the quality of its research and for driving excellent design and innovation within its projects. Stanhope has over 35 years’ experience working in partnership with communities, landowners, investors and occupiers to deliver a range of complex projects, from high-profile cultural institutions to specialist projects in life sciences and government, with a total value in excess of £27bn.

Recent projects include White City Place and Television Centre, which have created over 4m sq ft contributing to the regeneration of White City including c.950 new homes, workspace, a hotel, studio space and leisure facilities. Other recent schemes include Bloomberg London, Angel Court and Tate Modern. Stanhope has been selected as preferred partner to develop the British Library extension creating new gallery, learning and event spaces enabled by 700,000 sq ft of commercial accommodation for knowledge quarter organizations.