Prologis has received planning committee approval to develop a further life science facility in Phase 2 of its investment programme at the globally renowned Cambridge Biomedical Campus (CBC).
Subject to receiving the formal planning permission in coming weeks, 4000 Discovery Drive will provide 112,604 sq ft of modern, sustainable laboratory and office space over six storeys. The building will support the creation of hundreds of new jobs and meet the growing need for life science facilities in the Oxford Cambridge Growth Corridor.
The most recent approval follows the full occupation of 1000 Discovery Drive by Cambridge University Hospitals Trust and a leading European biotech company. 2000 Discovery Drive is currently under construction and schedule to complete in September, whilst 3000 Discovery Drive has full planning permission in place.
The successful entitlement and construction of Phase 2 underpin a new public-private partnership between Prologis and Cambridgeshire County Council. In February, the Assets and Procurement Committee of the council agreed a partnership with Prologis to deliver Phases 3 & 4 of expansion at CBC, creating an additional 2.4 million sq ft of life science research, development and innovation space.
The partnership represents an additional investment ambition of $4 billion (£3 billion) by Prologis over the next two decades and builds on the $635 million (£500 million) Phase 2 investment. The company’s proposals were welcomed by the UK government as a vote of confidence in the UK economy and its Modern Industrial Strategy.
Paul Weston, Regional Head of Prologis UK, said: “Prologis has been investing in the UK life sciences sector for over 20 years, providing the critical infrastructure necessary to ensure that businesses have the modern, sustainable facilities they need. Cambridge Biomedical Campus is globally renowned for innovation in life science and our significant investment over the next two decades will help to cement the campus’ position, whilst delivering lasting economic and health benefits for the people of Cambridge and UK more widely.”
Paul Bristow, Mayor of Cambridgeshire and Peterborough, said: “The approval of 4000 Discovery Drive is a clear vote of confidence in Cambridge and the UK’s life sciences economy. By investing ahead of demand, Prologis continues to ensure that world-leading organisations can access the sustainable, specialist space they need to choose Cambridge, grow here and remain in the UK. Bringing forward the final consent on the commercial building in Phase 2, while advancing the investment partnership with Cambridgeshire County Council on Phases 3 and 4, demonstrates the power of long-term public-private collaboration to unlock nationally important infrastructure, attract global investment and create high-value jobs. This is the ambition and delivery our region and the country needs, I welcome and support the commitment Prologis continues to deliver.”
