It has taken a 10 year lease at an annual rental of £16.50 per sq ft. Landlord Middlemarch Investment LLP was advised in the transaction by letting agent Knight Frank. The tenant was represented by Cushman & Wakefield.
MeDiNova recently rebranded as Acellacare, which is part of Icon plc. It has a global network of research sites that provide patient recruitment and delivery solutions for the clinical research industry. Its new Warwickshire centre will have an onsite laboratory that will help to facilitate the studies they carry out. Previous trials carried out in the Midlands have included chronic obstructive pulmonary disease (COPD), osteoarthritis and opioid-induced constipation.
The Middlemarch Business Park was acquired in 2016 by a joint venture between funder Bridges Fund Management and development manager Evenacre. Since acquiring the Park, the new owners have invested heavily in fully refurbishing the vacant office space, landscaping and opening a Java Lounge coffee shop.
Global property consultants Knight Frank and JLL are marketing the business park to potential occupiers.
Guy Bowden, from Bridges Fund Management said: “We are thrilled that MeDiNova have chosen Middlemarch Business Park as the location of their new Warwickshire site. When we initially purchased the park, we wanted to create commercial accommodation that would enable companies such as MeDiNova to thrive. We are proud that the space we have created will allow MeDiNova to pursue medical discoveries which will improve lives.”
Will Higgins, from Knight Frank’s Birmingham office agency team, said: “Middlemarch is a major success story and this latest arrival is as a result of the quality of the refurbishment programme that the landlord has implemented and the park’s excellent location. Only 7,500 sq ft of vacant office accommodation now remains at Middlemarch following this recent letting.”