The sciences concerned with the study of living organisms include biology, botany, zoology, microbiology, physiology, biochemistry, and related subjects. These studies and their relating activities are typically undertaken in spaces comprising of: wet and dry labs, Good Manufacturing Plant (GMP) manufacturing plants, office space and other specialist facilities.

Depending on the use of the building, specification of the laboratory and quantum of space, the cost of laboratory space and fit outs can vary significantly. The rental levels achieved can be influenced by whether the laboratory is already equipped and what building services are provided, particularly where controlled environmental conditions exist.. It’s important when leasing space to understand the additional costs that may not form part of the "base" rent but are part of the all-inclusive lease and analyse them in isolation.

Lab space can be found across the UK in a variety of different forms, from single bench “touchdown” flexible labs, to university incubators and larger spaces tailored to single research and development or GMP occupiers. We have an extensive national and international network of specialist advisors that will enable you to locate, negotiate and occupy the lab space you require, in the area you are focused on.

As mentioned above, there are a number of factors that can dictate what rental levels are appropriate. From the location of the laboratory to the services and fit out provided. We can advise you on all aspects of your lease, including whether the rental level you are paying is too high and the steps that can be taken to reduce it.

The value of your life sciences property can be split into three parts. Firstly is the property’s characteristics, i.e. where is the asset located, is the property a repurposed or a new build, what proportion of the property is lab space and what type of lab space is provided.

The second are the occupational factors, i.e. who is the property let to, how much rent is being paid, how long left do they have on the lease, and what is the likelihood that the tenants will renew.

Lastly, is the performance of the local, regional, national, and global life sciences markets. The above are only a handful of the aspects that could impact property value, which we will diligently review before arriving at our opinion of value. We value significant amount of space for some of the leading investors, developer and lenders in the market which provides us with valuable market leading insight and enables us to accurately value life sciences assets. Get in touch with a Life Sciences Valuation expert today.

Whether your building is suitable for repurposing will depend on a number of factors. Firstly, the location of the building will be critical. Life sciences communities tend to cluster around academic institutions, major hospitals, research hubs, and large pharmaceutical companies. Next, you will need to consider the structural specification of your building. Occupiers in the life sciences sector often need large floor to ceiling heights, flexible floor plates, significant power provision, increased floor loading capabilities, and plenty of space for M&E and plant. These are only a handful of the characteristics that a building suitable for repurposing will need. We can advise on whether your building will work for life sciences