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Life Sciences Golden Triangle Report Life Sciences Golden Triangle Report

Life Sciences: Golden Triangle Lab Report

Jamie Renison • 29/01/2024
Our latest Life Sciences Lab Report on the UK's Golden Triangle. The report External Link looks closely at investment volumes, leasing take up, lab supply and pipeline, and investment into life sciences real estate across Cambridge, Oxford and London. 
 
Q4 2023 Take-Up Statistics
  • Key deals cause a surge in Golden Triangle leasing activity, totalling 352,000 sq ft in Q4
  • This is more than double both the previous quarter and the five year quarterly average
  • Q4 brings the 2023 total to 925,000 sq ft – the highest annual volume since 2015
Evolving Demand and Supply
  • Leasing volumes remain restrained by the shortage of supply in Cambridge
  • New stock completing in Oxford and London has eased acute availability shortages
  • There is 3.1 million sq ft of life sciences space under construction across the Golden Triangle
  • 26% of supply under construction is pre-let or under offer
  • Occupier demand across the Golden Triangle remains robust
  • Prime headline rents in Cambridge are now at £70.00 psf, up 8% of Q3’s £65.00 psf
Investment Market Insights
  • Investment activity in the Golden Triangle picked up in Q4 2023 leading to an annual total of over £553 million
  • This reflects a significant drop versus previous years, with activity continuing to be impacted by higher interest rates
  • The visible pipeline of assets coming to market, or going under offer, suggests investment activity will pick up going into 2024
Venture Capital
  • Venture capital (VC) funding in 2023 was down 8% on the five-year average, but is expected to increase in 2024
  • Golden Triangle VC funding volumes totalled £2.14 billion in 2023
  • Early Stage VC raises were fewer in number but larger in size 

Read more in our latest quarterly report External Link or get in touch with a member of the team to discuss further.

Resources

istockphoto-idea
GSK Completes Sale Of Strategic Life Sciences Development Site

Real estate services firm Cushman & Wakefield has advised GSK plc on the sale of the surplus development land that sits alongside its 1 million sq ft Research & Development (R&D) facility in Stevenage to UBS Asset Management and Reef Group. 

11/11/2022

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Life Sciences Update: October 2022

Following extraordinary investment, expansion, and innovation in 2021, the life sciences industry is poised for further growth and consistent demand in the years ahead.
Sandy Romero • 26/10/2022
Life Sciences Real Estate Services
We help life science companies create flexible real estate strategies to attract and retain top talent, while managing efficiency and costs.
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