London AIM-listed Rasmala Investment Bank has acquired a life sciences scheme in the Netherlands' Leiden Bio Science Park from local developer Dura Vermeer.
Financial details were not disclosed.
The DuPont development comprises a total lettable floor area of approximately 6,588 m2 divided into approximately 4,001 m2 of laboratory space, approximately 2,587 m2 of office space and 108 parking spaces.
The property is fully let to Genencor International, a subsidiary of the American chemical group DuPont. The property is scheduled for completion in Q2 2020.
Naseer Aka, head of real estate at Rasmala, said: 'We are pleased to be working on our forward commitment transaction in the Netherlands. This strategic asset has provided the opportunity to transact on our first asset in the Netherlands and diversify our geographical footprint in Europe.'
'The sale of the Dupont Development marks yet another successful design and build project for Dura Vermeer,' said Peter Krop, managing director at Dura Vermeer.
Hassan Farran, director in Savills cross border investment team, advsisor to Rasmala, said: 'Leiden Bio Science Park is known as the largest biopharmaceutical park in the Netherlands and is one of the top five science parks in Europe.
'The cluster of pharmaceutical companies at this location is expected to further strengthen the position of Leiden Science Park in the future. We are therefore very excited to have successfully secured this location for our client.'
Rasmala was advised by Savills (commercial and technical) and DLA Piper. Savills has also been appointed to manage the property.
Dura Vermeer was advised by Cushman & Wakefield and AIM Advocaten.
