Babraham Bioscience Technologies (BBT) are responsible for the development and management of the Babraham Research Campus near Cambridge, UK. The freehold is owned by the Biotechnology and Biosciences Research Council (BBSRC). For many years, the Campus has been a centre of excellence in the Life Sciences sector, being home to the Babraham Institute , and over 60 life science companies. During the 1990’s a need was recognised for a growing demand for research businesses to locate alongside the Babraham Institute. Accommodation for these businesses was created in existing surplus Babraham Institute buildings. By 2003 demand had built up to the extent new development was considered and planning permission was granted for new laboratory and office space. This was augmented in 2011 with the announcement of a £44M investment in the campus by the UK Government to support campus growth. Over £70M has been invested in the buildings and facilities to support commercial operations. Around 12,500 sq m of new development has since been created and successfully let.
The commercial offer at Babraham has to sit appropriately within the range of buildings developed on various parks around Cambridge and so Babraham has sought advice from Creative Places to ensure it has an accurate picture of the laboratory market.
Using our extensive knowledge of the life sciences property market in Cambridge and around the UK we have provided BBT with supply, and rental value advice to enable them to fully see the market place they are operating in. We have been able to compare the Babraham campus offering with others, understanding the way in which different specification laboratory space is offered on different terms to enable a true and accurate comparison. We have also provided valuation advice for accounts purposes, as RICS Registered Valuers.
BBT has been able to properly understand the value of their commercial R&D property assets and how their successful laboratory offering compares to supply locally and the picture nationally.