Mission Street appoints firm for next stage of Cambridge life sciences scheme

Mission Street and BGO have confirmed the development of a further 64,000 sq ft of lab space at the Press in Cambridge. The duo has appointed 8build to deliver the second phase of the 100,000 sq ft scheme, which will include lab space for the supply-starved market, along with green space and a public café. There is demand for around 1m sq ft of life science space in Cambridge but only 10,000 sq ft is currently available. The second of three phases will create lab and office space either as a headquarters building or up to six smaller suites. This will follow on from phase one, which features fully fitted lab suites of between 4,500 sq ft and 12,000 sq ft, and will be completed early in 2024. The scheme, on the Melbourn Greenway in the Cambridge Southern Cluster, is targeting BREEAM Excellent. Additional tree-planting and landscaping will deliver biodiversity net gain across the site by a minimum of 20%. Mission Street founder and chief executive Artem Korolev said: “8build has the technical know-how to help us bring forward the latest phase of the Press. “The pioneering, three-phase development will cater to innovative companies at every stage of their R&D journey. Thanks to our board and our incredible project team, the building’s function has been informed by industry leaders of companies in the sector.” Mission Street was established in 2017 as a specialist mixed-use investor, developer and operator of real estate for the sciences and innovation sector.  It has managed more than 1.5m sq ft of UK commercial property with major institutional investors and family offices, involving development and value add asset management. Global real estate investment management adviser BGO has more than 750 institutional clients with approximately $81bn (£64bn) in assets under management. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Image © Nau Studio