Breakthrough Properties, a joint venture between global developer Tishman Speyer and biotechnology investment firm Bellco Capital, has secured planning permission and a £104 million construction loan from BGO for Vitrum by Breakthrough, a life sciences development inside the 21-acre St John’s Innovation Park in Cambridge, England.
Breakthrough is transforming the 1.8-acre site into a flexible, high-performance laboratory environment.
Working with world-renowned architectural studio Henning Larsen, Breakthrough has designed the five-story, 175,000-square-foot building for maximum flexibility and adaptability for a wide range of scientific uses.
Site completion and grand opening is anticipated in 2026.
Tom Renn, Senior Vice President for Acquisitions and Development at Breakthrough Properties, expressed enthusiasm, stating, “With Vitrum by Breakthrough, we are creating a cutting-edge environment for biotechnology companies that rely on modern, flexible lab spaces to advance life-changing scientific discovery.”
BGO Managing Director Martin Sheridan echoed the sentiment, affirming, “BGO is thrilled to be supporting Breakthrough Properties on the development of this market-leading project. This deal represents our first UK life science financing, and we expect to participate in more opportunities this year with our confidence in the sector remaining high.”
The building is designed to operate free of fossil fuels, with all-electrical heating and cooling systems, aiming for certifications such as BREEAM Excellent and WELL Platinum.
This was the first permission granted for a new commercial building in the North East Cambridge area since July 2022.
