UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) is acquiring a pre-let UK life science real estate facility in a £66m (€77m) from Stevenage Borough Council in a forward funding deal.
UBS-AM REPM said the pharmaceutical facility near Stevenage in the east of England, expected to complete in May 2023, is pre-let to NASDAQ-listed biopharmaceutical company Autolus Autolus Therapeutics on a 20-year lease.
The manager is working with development partner Reef Estates, who will develop the site with Merit Health as the underlying contractor.
Jon Hollick, head of real estate EMEA ex DACH at UBS-AM REPM, said Stevenage offers all the necessary structural drivers to support a “thriving life sciences eco-system, including a supportive local authority, access to road and air transport, and a critical mass of existing biopharma companies”.
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