ESPG extends lease with anchor tenant in Science Park “Lab City” until 2033

ESPG extends lease with anchor tenant in Science Park “Lab City” until 2033

Cologne, 2 June 2023: The European Science Park Group (ESPG), a real estate company specialising in science parks, has extended the lease agreement with the anchor tenant of the Science Park “Lab City” in Neu-Ulm until 31 December 2033. The tenant is a market-leading company in the pharmaceutical industry. The premises have GMP certification for the production of radiolabeled active ingredients. The leased floor space comprises around 12,000 square metres. In addition, a sustainable energy concept for the property is being drawn up and implemented in close consultation with the tenant.

Ralf Nöcker, CEO of ESPG AG, comments on the conclusion of the contract: “Our science parks offer optimal conditions for technological breakthroughs and strengthen Germany as a location for science. The conclusion of the contract once again confirms that this strategy is fully successful and underlines our capabilities as a science park investor and active asset manager. In addition, we have taken another important step in the implementation of our ESG strategy by optimising the property's energy concept.”

As part of the contract extension, the energy supply was switched to district heating. This makes biomass the Science Park's main energy source. Further measures to optimise the portfolio's ecological footprint are being planned - including the installation of photovoltaic modules. With the conclusion of the lease agreement, the average remaining term of the portfolio's leases (WAULT) is extended to 5.2 years.

The ESPG portfolio currently comprises 16 science parks with a total area of more than 126,000 square metres. The concept of science parks is based on providing customised space to companies in the field of science and technology and supporting them on their growth path. As a rule, Science Parks are located in the immediate vicinity of universities, clinics and renowned research institutions and often reflect the focus of these academic institutions. This promotes the creation of synergies between the resident companies and supports the development of networks.

About ESPG
The European Science Park Group (ESPG) is a real estate company specialising in science parks. The company focuses on the development of science parks, predominantly characterised by tenants from future-oriented industries such as life sciences, green technologies or digital transformation, which benefit from the proximity to each other and the direct vicinity to universities, hospitals or research locations. ESPG's portfolio already includes 16 science parks across Europe with a total area of 126,000 square metres and a balance sheet value of approximately 240 million euros. The sites are generally located outside metropolitan areas, in areas that are considered science clusters or have a high concentration of innovative companies.

Further information: https://espg.space

Press Contact:
Jan Hutterer
T +49 40 60 91 86 65
M +49 172 346 28 31
espg@kirchhoff.de