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Central and East


PRECISION TIMING FIRM TAKES SPACE AT CAMBOURNE BUSINESS PARK

By Laurence Kilgannon
13 Jul 2023, 13:52

Image source: cambournepark.com

Life Science REIT has completed the letting of space in a building at Cambourne
Business Park to a global precision timing designer and manufacturer.

Headquartered in New Zealand, Rakon has been a major player in enabling
positioning for agritech for more than a decade.

The lease for 4,877 sq ft at building 2020 is at a rent of £25 per sq ft for ten
years with a break clause and rent review at the end of the fifth year.

This marks the company's first life science letting at Cambourne.  Rakon is due
to fit out the space to create dry labs, increasing the percentage of life
sciences space at the park to more than 25 per cent by rent. 

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The 230,000 sq ft Cambourne Business Park was acquired by Life Science REIT in
2021 with the intention of transitioning the asset to a dedicated life sciences
and technology hub.

Existing occupiers at Cambourne include Carl Zeiss AG, a global pioneer of
scientific optics. Today's letting increases occupancy at the park to 82%
providing further asset management opportunities for the Company as it
progresses its strategy.

Reza Sedehi, head of products of Rakon, said: "Rakon has been designing chipsets
to enable connectivity since 2008. Today, we cannot be more excited to relocate
our boutique chipset design hub to the UK's silicon fen, as we set to expand our
ASIC based product portfolio.

"Being in Cambourne will allow us to have access to the world's leading
engineers, bring us closer to our customers (such as ublox and MediaTek) and
provide us with a peaceful, exciting and innovative working environment."

Ian Harris, director of asset management at Ironstone Asset Management,Life
Science REIT's investment adviser, said: "Cambourne is an excellent opportunity
for the company to capitalise on the strong demand for science and technology
space close to Cambridge. 

"Its combination of high quality, but affordable space and proximity to
pioneering academic institutions are attracting innovative businesses and we are
delighted to welcome Rakon to Cambourne."

--------------------------------------------------------------------------------

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Life Science REIT
Rakon

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WATCH OUR BUSINESS BRIEFING FOR INSIGHTS INTO TODAY'S NEWS


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 * QUANTUM TECH FIRM INKS LEASE FOR SPACE AT OTP’S INNOVATION QUARTER

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 * LIFE SCIENCE REIT AGREES £150M DEBT FINANCING FACILITY

 * LIFE SCIENCES FIRM LINES UP £300M FLOAT


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