The new venture with PGGM follows a similar vehicle Lendlease set up in February, where it is partnering with Canada’s Ivanhoe Cambridge on a platform that will deliver labs, offices and manufacturing facilities in high-growth life science clusters across the US.
Innovation districts are typically anchored by research institutions, hospitals and laboratories, often with specific biosafety standards and access for big data modelling.
Lendlease has already ventured into the emerging sector, through its MIND project in Milan. In that development, a University of Milan campus has joined with a major hospital along with Italy’s new research institute for life sciences, The Human Technopole.
The ASX-listed global player is also on familiar turf in Japan, where two years ago it set up a business to develop and manage new telecommunications masts.