LSE-listed Life Science REIT has bought three buildings for £38.7m (€45m).

The new UK real estate investment trust focused on the life-science real estate market said it has acquired the Cambourne Business Park near Cambridge through the purchase of Scholar Property Investments.

The three buildings, which total more than 100,000sqft of office and medtech space, comprise two two-storey units and one three-storey unit and are let.

Simon Farnsworth, managing director of Ironstone Asset Management, Life Science REIT’s investment adviser, said: “We are delighted to announce Life Science REIT’s fourth acquisition, and second major acquisition, since our initial public offering last month.

“Cambourne Business Park has the opportunity to become the premier science park to the west of Cambridge, where transport links are particularly strong and are set to be enhanced by further infrastructure improvements over the next few years.”

Farnsworth said the acquisition of the three buildings at the park benefits from attractive current income along with investment opportunities in further laboratory space and amenity facilities to drive the buildings’ attraction to life science companies.

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