Canary Wharf Group and Kadans Science Partner, which is owned by Axa IM Alts, are to develop a 750,000 sq ft (69,677 sq m) life-science focused, wet-lab enabled building at London’s Canary Wharf. Billed as Europe’s largest commercial laboratory building, it is also the first phase of health and life sciences cluster.
The 22-storey laboratory building is to be built on Canary Wharf’s 3.3 hectare North Quay site, which is next to the new Elizabeth Line station, and will be completed in 2026.
Designed by architect KPF, the building will have the flexibility to allow lab space on all floors. The building will “create a campus under one roof”, housing SME’s and academics as well as global healthcare and pharmaceutical companies and will be an international hub for life sciences companies.
Kadans’ expertise is in the development and management of life sciences buildings and ecosystems. The company’s CEO Michel Leemhuis added that AXA IM Alts fully supports the joint venture with Canary Wharf Group.
Kadans was acquired by Axa IM Alts in late 2020. In July 2021 Axa announced that it had raised €1.9 billion for investment in European life science projects, most of which would be invested via Kadans.
Canary Wharf Group CEO Shobi Khan said that the group has been developing a vision for health and life sciences since 2019. “We are creating a world class building that will provide state of the art laboratory, office and innovation space for some of the most exciting and fast-growing businesses in the health and life sciences sector,” he said.
“Canary Wharf is a true live, work and play destination, with 20 acres of outdoor green space, 5 km of dockside boardwalks, hundreds of shops, restaurants and leisure facilities,” he added. “We have developed 2,300 apartments on site with another 2,300 homes currently under construction – we have homes for every income level, which will enable researchers and their colleagues to live close by.”
Cushman & Wakefield advised CWG while JLL advised Kadans on the joint venture.