York Biotech Campus, Sand Hutton, York, YO41 1LZMake an enquiry
LXi REIT, represented by Atlas Real Estate, has completed on the acquisition of a major Life Sciences park totalling 381,903 sq. ft, known as the York Biotech Campus.
The 81-acre campus is situated 7 miles south of York city centre, and provides a mixture of laboratory, office, and warehouse space, with an extensive amenity offering.
The property is let in its entirety to Capita Business Services on an FR&I basis for a further 25.1 years. The total passing rent is £2,500,000 per annum reflecting a low rate of £6.54 per sq. ft and is subject to 5-yearly RPI-linked rent reviews. 94% of the campus is sub-let with 75% of the income derived from UK Government agencies.
The property was acquired for a price of £53,100,000 which reflects a net initial yield of 5.07%.
Ben Blackwall, Director at Atlas Real Estate commented “We were delighted to complete on the acquisition of this long index linked strategic investment opportunity for our clients. The property is at the forefront of the UK government’s research into agriculture and the environment. The property also acts as a crisis response centre for national outbreaks.”
ACRE Capital Real Estate represented the vendors.