Following the news that anti-cancer drug developer ADC Biotechnology had secured £8M funding to support the construction of a pharmaceutical manufacturing facility on Deeside, FI Real Estate Management (FIREM) has announced the letting of its largest and last remaining unit to the company at Deeside Industrial Park.
The 70,248 sq ft unit, formerly used for pharmaceutical manufacturing, will now be at the heart of an exciting expansion programme for ADC, enabling the company to manufacture antibody drug conjugates in all clinical phases and to provide small-scale commercial production. ADC Bio will utilise surrounding land and work closely with FIREM’S asset management and property management team on future redevelopment. It was let for a term of 20 years at a headline rental of £4.00 per sq ft.
The high growth, specialist contract services company’s Chief Executive Charlie Johnson said that the first stage of development would be to fit out the existing unit for First in Man and advanced clinical trials. As part of the fit out, ADC Bio will relocate its existing R&D activities from its current location at St Asaph business park. “We look forward to working with the FIREM team on this initial project which is set to bring another 50 highly skilled jobs to Deeside. We anticipate more will follow as our operation grows.
“Their help so far in achieving a lease surrender from the previous occupier to allow us to make these plans has been invaluable.”
For FIREM, Estate Manager at Deeside Matthew Pickles added: “We realised that this was a major opportunity for us in the long term and so we worked extremely hard to achieve the lease surrender and to conclude a deal with ADC.
“We look forward to working with the company, which is one of the pioneers in the manufacture of the next generation of life-saving oncology therapeutics, to create a state of the art manufacturing facility for the future. They now join our other major tenants – Ralawise Ltd, UPS Limited, Akzo Nobel Packaging Coatings Ltd and Americk Packaging. We manage over 246,223 sq ft of manufacturing and warehousing space at Deeside and with this deal that is now fully occupied.”