Science park investor, developer and operator Kadans Science Partner has acquired The Sherard Building at Oxford Science Park in the UK from MRP, the property arm of construction firm McAleer & Rushe.
Financial details were not disclosed.
The Sherard Building is a 28,000 ft2 property let in its entirety to the venture capital firm Oxford Science Innovation (OSI). OSI is using the building to support early-stage life science businesses being spun out of the University of Oxford.
Brigid O’Donnell, investment director of MRP said: ‘Having acquired the building five years ago and achieved a new letting with Oxford Science Innovation following early surrender agreement with the sitting tenant, we have taken the opportunity to sell the building to specialist investor Kadans Science Partner.
'The sales process attracted significant interest from life science investors and is a fantastic result for MRP and our shareholders.’
James Sheppard, Kadans commercial director for the UK & Ireland, said: ‘We are delighted to secure this tremendously important building on Oxford Science Park.
'Oxford is a critical location for science and technology development and the addition of The Sherard Building will allow us to support OSI in their mission of building world-changing businesses.’
With the acquisition of The Sherard, Oxfordshire, the Kadans portfolio now comprises over 40 buildings and numerous projects under development in the Netherlands, the UK, Germany, Belgium and Spain.
Kadans was supported in the transaction by DTRE, while Mills & Reeve acted as legal advisors for Kadans. Steerforth Partners and Farrer & Co LLP advised the vendor.
