Railpen buys Eastpoint business park for £29m
Railpen has made its first entry into the Oxford life sciences market through the acquisition of Eastpoint business park for £29m from AEW.
Eastpoint Business Park comprises five buildings with a net internal area of 74,823 sq ft. The deal follows successful investment in the Cambridge innovation sector.
Railpen, the investment manager for £37bn of pension schemes, is set to reposition the park to create a flagship lab-led asset that will help meet demand from occupiers.
Railpen has made its first entry into the Oxford life sciences market through the acquisition of Eastpoint business park for £29m from AEW.
Eastpoint Business Park comprises five buildings with a net internal area of 74,823 sq ft. The deal follows successful investment in the Cambridge innovation sector.
Railpen, the investment manager for £37bn of pension schemes, is set to reposition the park to create a flagship lab-led asset that will help meet demand from occupiers.
Alistair Dawson, senior asset manager at Railpen, said: “Eastpoint met all our criteria to deliver enhanced returns to our members through strategic acquisitions; it is in a prominent location in a city that is oversubscribed with demand yet undersupplied with quality stock, and the site has great development potential.
“Combined, these factors mean that under our ownership, it will become even more important to occupiers seeking space in Oxford’s life sciences sector.”
DTRE advised Railpen on the transaction.
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Image © DTRE
