UK Life Science Marketbeat Reports

For the data behind the commentary, download the full Q4 2024 UK Life Sciences Report

Looking back: C&W activity in 2024

Cushman & Wakefield’s Life Sciences team played a leading role in shaping the Life Sciences market within the Golden Triangle in 2024, contributing to 29% of all wet lab space transacted across the market. A standout achievement was the leasing of 90,000 sq ft across three separate deals at The Oxford Science Park, accounting for 46% of all activity in Oxford that year.

Further to this, at the close of 2024 Cushman & Wakefield’s Life Sciences Agency team were advising on 59% of the transactions under offer in the Golden Triangle.

Looking forward: outlook for 2025

We started 2025 on a similarly positive trajectory, having already secured around 30,000 sq ft across two transactions.

The outlook for the Golden Triangle in 2025 is one of cautious optimism, underpinned by improving economic conditions and robust industry dynamics. Following an upswing in biotech investment in 2024, the sector is expected to see continued, albeit moderate, growth as gradual interest rate cuts in both the UK and US foster a more favourable investment climate.

The Golden Triangle will see nearly 2 million square feet of new lab space delivered, equivalent to about 2.5 years of supply based on average take-up. This expansion, part of a larger pipeline of 4.3 million square feet scheduled for completion by 2027, will facilitate growth in the sector and allow the rental market to continue developing, with Oxford expected to narrow the gap with Cambridge. Rental increases in Cambridge and London will likely remain modest as supply builds.

M&A activity is predicted to rebound as pharmaceutical companies seek innovative technologies, address R&D challenges, and expand their market presence. Alongside these trends, the adoption of advanced digital technologies such as generative AI, digital twins, and cloud computing will accelerate R&D processes and enhance operational efficiency, ensuring the sector remains a leader in innovation.