Canadian investor Cadillac Fairview, the real estate arm of Ontario Teachers’ Pension Plan, and leading UK developer and asset manager Stanhope PLC have acquired a further property within Cambridge Science Park, expanding on their strategic holding in Cambridge and building further on their UK life sciences portfolio. 

Previously owned by Norwich City Council, 163 Cambridge Science Park occupies a prominent location on the eastern side of the park and provides 10,197 sq ft of office space. It is currently occupied by speciality lighting company, Heraeus Noblelight Ltd and represents a near-term opportunity to develop prime life sciences lab space at the park. The acquisition of 163 Cambridge Science Park builds on Stanhope and Cadillac Fairview’s investment in Cambridge following a joint venture in October 2022 for three-building campus at 194-198 Cambridge Science Park.

Established nearly 50 years ago, Cambridge Science Park is a globally renowned centre of excellence within the science and innovation Sector. Over 100 businesses are based in Cambridge Science Park, ranging from spinouts from Cambridge University to multinational companies looking to utilise the University entrepreneurial talent pool.

The Cambridge deals build further on Cadillac Fairview and Stanhope PLC’s drive into prime life sciences campuses outside London, 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: 

“We are delighted to increase our presence in Cambridge and further cement our partnership with Cadillac Fairview in the life science market. With sites situated across the Golden Triangle in Cambridge, Oxford and London, it is an exciting time for us as we expand on our life science development expertise.”

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

“We are thrilled to be further growing our life science portfolio in this sought after location alongside our partner, Stanhope. Today's acquisition demonstrates the strong momentum of our partnership and also furthers the strategic expansion of Cadillac Fairview's European real estate portfolio focused on life sciences, logistics, residential, and office in the UK and Europe.”

ENDS

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 retail, office, residential, industrial and mixed-use asset classes. Wholly owned by the Ontario Teachers’ Pension Plan, CF manages in excess of $40 billion of assets across the Americas, 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 developer, investor and asset manager with a London office of more than 60 staff including specialist expertise in property, construction, and asset management.

Stanhope has delivered more than 30 million sq ft, and achieved £40 billion of end value, delivered and under construction. The company typically manages around £3 billion of construction value on site and in its pipeline. Stanhope generates consistent returns for its partners while setting new standards for workplaces, homes and cultural spaces that people love to use.

Its development management model enables the delivery of projects from inception to successful operation, as well as offering clients more targeted support in phases where they need it most. 

Combined with its company culture, Stanhope’s approach helps identify better answers, manage risks and navigate complex processes to create lasting value for its partners and the communities they jointly serve.

Recent projects include White City Place, Television Centre, Bloomberg London and One Bishopsgate Plaza. 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 organisations. Stanhope has also been selected as Development Partners for Guy’s and St Thomas’ Foundation to bring forward a development on a 5.5 acre site opposite St Thomas’ Hospital and close to Waterloo Station.