Developer triggers Phase 1 of ex-GSK lab transformation
European and US real estate asset manager and investor, Global Mutual, is behind the transformation designed to deliver an adaptable and highly specified sustainable R & D facility at the most affordable cost.
Global Mutual has instructed Morgan Lovell and Baker Hicks, both part of the Morgan Sindall Group plc, to undertake the works, which are scheduled for completion in Q3 this year.
The state-of-the-art building, constructed in 2014, remains one of the most highly specified buildings currently available. Comprising laboratory and write-up spaces over three floors, the sustainable, low carbon retrofit, which is targeting EPC A on completion, will create flexible and adaptable units with low onward operating costs ranging from 5,000 sq ft – 90,255 sq ft.
The high base specification of the CL2/3 wet laboratory and associated write-up spaces is designed to appeal to a broad range of occupiers from contract research and contract development and manufacturing organisations to biotech and pharmaceutical ventures. The spec includes:
- Air handling of up to 28 air changes per hour.
- Provision for multiple ducted fume cupboards with high density capacity.
- Bottled laboratory gases hard piped throughout the building + compressed air network.
- 4MVA to Riverlabs from UKPN.
- Floor to ceiling working heights up to 3.5m.
A pivotal aspect of the development works involves the replacement of fossil fuel usage with complete electrification of the site. The projected carbon savings from this transformative retrofit are expected to exceed 75 per cent versus a comparable new-build and will facilitate carbon-neutral operation upon completion.
Each unit will be delivered as either Shell and Core or fully fitted CAT B depending on occupier requirements.
Global Mutual is partnering with development finance partner, Puma Property Finance to enable the phased transformation of the Riverlabs campus. To date, Puma has provided a £46 million loan to enable a whole-campus regeneration, of which this initial work is Phase 1.
Riverlabs sits on the Cambridge to Kings Cross life sciences Innovation Corridor within a 45-minute radius of London, Cambridge and the established Cell and Gene Therapy Catapult in Stevenage.
The reverse commute from London is described as easy as any within London itself. Trains connect Ware to Tottenham Hale Tube station four times per hour with a journey time of just 30 minutes, and a tranquil four-minute riverside bike ride or 12 min walk completes the journey to the campus along the beautiful River Lea tow path.
Set within a 28-acre campus, Riverlabs boasts 15 acres of open green space and offers a wealth of recreational facilities. These include a sports club featuring five floodlit tennis courts, a five-a-side football pitch, cricket, football and rugby pitches. Its waterfront location on the River Lea enables a variety of water-based activities.
This holistic environment caters to the diverse needs of businesses and their employees, promoting a balanced work-life dynamic – a critical factor in company location decisions.
For more details contact joint agents: Liam Nicholls: +44 (0)7884 869 400 / Seb Denby: +44 (0) 7810 242 194 at Creative Places and Joshua Doble: +44 (0)7783 771 576 at JLL. More about Riverlabs: www.riverlabsware.com