Kadans buys Oxford Biomedica’s Windrush Court for £60m
Kadans has exchanged contracts to buy Oxford Biomedica’s Windrush Court in Oxford for £60m.
Completion is due to occur on or around 18 November 2022.
The sale proceeds will exceed the target offer figure of £55m. The current net book value of the property is approximately £7.9m.
Kadans has exchanged contracts to buy Oxford Biomedica’s Windrush Court in Oxford for £60m.
Completion is due to occur on or around 18 November 2022.
The sale proceeds will exceed the target offer figure of £55m. The current net book value of the property is approximately £7.9m.
Oxford Biomedica has taken a 15-year lease at the property at a rent of £3.5m pa, rising to £4.7m pa after five years. There will be a market rent review at year 10.
The 75,000 sq ft facility consists of laboratories and offices, which Oxford Biomedica has developed over the past eight years. The facility houses the company’s Analytical Services Group and Process Research & Development functions.
Oxford Bimedica CFO Stuart Paynter said: “We are pleased to have exchanged contracts for the sale and leaseback of our state-of-the-art Windrush Court facility and look forward to building a relationship with Kadans, the European leader in the development and management of life sciences buildings and ecosystems. The proceeds of the transaction will enhance our net cash position, providing us with additional financial flexibility as we build our leadership as an innovation-led CDMO across all viral vectors for cell and gene therapy.”
James Sheppard, UK and Ireland managing director at Kadans, added: “We are delighted to secure this tremendously important asset in the Oxford ecosystem. Oxford Biomedica is one of the world’s leading companies in cell and gene therapy, an area of deep specialism for Kadans, and we look forward to building a relationship with the team.”
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