Canary Wharf is anticipated to host the largest commercial wet lab in Europe, as part of a investment partnership unveiled today.
The Canary Wharf Group and Kadans Science Partner have announced a joint venture today to develop the 750,000 square foot life-science focussed hub.
While no figure has yet been put on the investment, City A.M. understands it is in the range of hundreds-of-millions of pounds.
It comes as Britain looks to double down on its life sciences industry post-Brexit.
“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,” Canary Wharf Group CEO Shobi Khan said.
“There could not be a better environment for the UK’s most innovative life sciences businesses.”
The lab, to be based on the large North Quay site next to the newly unveiled Elizabeth Line station, will span 22 storeys.
Kadans, which already has a London commercial site based in Kings Cross, will lead the lab and office projects, which will eventually be available to let.
While New York-based architecture firm KPF, which designed the City’s Heron Tower and Unilever’s London HQ, will design the building.
Kadans CEO Michel Leemhuis added: “This joint venture with Canary Wharf Group, which is fully supported by our sponsor and partner AXA IM Alts, provides us with a rare opportunity to not only develop a significant and sustainable new life sciences lab building, which will be the largest in Europe, but also for it to be the catalyst for a new world leading life sciences cluster and ecosystem in the UK capital.”