Financial details were not disclosed.

The 12,000 m2 scheme was purchased from the developer, Provast. Construction is scheduled to start in April 2023 with completion expected at the end of 2024.

The project comprises a laboratory and office for housing Batavia Biosciences, which will produce vaccines and medicines against infectious diseases. 

Provast will develop the building in line with the Breeam-NL Excellent New Construction certificate for sustainability, which means it will be a completely gas-free and flexible building, among other highly sustainable specifications. The building will be located next to the A44 motorway. Paul de Ruiter Architects was responsible for the design.

Owen Clayton, director of transactions at CBRE IM said: 'We are very pleased with the acquisition of this building at the Leiden Bio Science Park.

'This park is one of the most important life science clusters in Europe and will further develop into a multifunctional innovation hub in the coming years. Life science has proven itself in recent years as a strong investment category.'

Provast was advised commercially by CBRE and legally by Loyens & Loeff in the transaction. CBRE IM was advised commercially by Savills, legally by CMS and technically by CBRE Development Services.