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Fidelity buys life science real estate in Netherlands

mirai_house_fidelityFidelity International has bought a research and development property at Leiden Bio Science Park in the Netherlands for €54 million.

The purchase of Mirai House from Japanese pharmaceuticals maker Astellas  reflects Fidelity’s move into the life science sector, which the firm said offered long-term and stable income.

Maarten Frouws, investment manager at Fidelity International, said the Leiden Bio Science Park is one of the best developed science parks in Europe. 

“This defensive investment in a growth market offers our investors a very stable return and demonstrates the shift in investor demand from mainstream real estate sectors to more thematic investments,” he added.

Mirai House, which has a surface area of around 15,000 sqm, is occupied by tenants with leases ranging from ten to 15 years, including the Netherlands Center for the Clinical advancement of Stem Cell and Gene Therapies.

The asset was bought on behalf the Fidelity Eurozone Select Real Estate Fund, the firm’s flagship real estate fund. Astellas has leased back the building’s office wing. 

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