Life Science and Biotech campus in York which employs 1,000 people gains new owner

The Board of LXi REIT has announced a number of acquisitions for a total cost of £80 million, including the site in York which is a major employment base.

In a statement, the company said: "The company has acquired a substantial Life Science and Biotech campus in York. The campus, which extends to 382,000 sq ft of highly specialist, world-class facilities across 82 acres, is an internationally renowned science facility.

"The campus is the place of work for 1,000 people, who utilise the fully fitted wet and dry labs, office and write-up space and specialist manufacturing facilities to perform the delivery of science, technology and product commercialisation. The campus has a particular specialism in agri-tech, food biotechnology, environmental, medical, healthcare and diagnostic work.

The statement added: "As a secure site with highly specialist facilities, the campus has acted as a national response site for the UK Government and has performed a key function during various public health crises, including Covid.

"The campus is fully let to Capita plc on a long lease with 25 years unexpired until first break.

"Occupational demand for the campus is significant, including from Government entities, and there is expansion space at the property which may provide opportunities for the company to further enhance the value of the asset through the pre-let forward funding of additional buildings."