German fund management group Hannover Leasing has bought the Danone Innovation Centre in the central Dutch city of Utrecht from developer OVG for an undisclosed sum.

The 20,000 m2 development, to be located in Utrecht Science Park, will comprise laboratories, a pilot plant, conference centre and offices. The project is aiming for BREAAM Excellent certification and is due for completion in May 2013.

The new centre will enable specialist food producer Danone to concentrate its R&D activities - currently spread across the Netherlands, Germany and the UK - in one place.

Hannover Leasing was advised on the transaction by CVO Group, law firm Loyens & Loeff, Jones Lang LaSalle and Storms International Property Services. Houthoff Buruma advised the vendor.

Hannover Leasing manages assets totalling around EUR 15.8 bn on behalf of more than 60,000 institutional and private investors.