Life Science REIT PLC New Lease at Oxford Technology Park (6985I)
09 Agosto 2023 - 8:00AM
UK Regulatory
TIDMLABS
RNS Number : 6985I
Life Science REIT PLC
09 August 2023
9 August 2023
LEI: 213800RG7JNX7K8F7525
Life Science REIT plc
("Life Science REIT" or the "Company")
New Lease at Oxford Technology Park
Life Science REIT (LSE: LABS), the real estate investment trust
focused on UK life sciences properties, is pleased to announce the
letting of 10,765 sq. ft. across two units at the Innovation
Quarter at Oxford Technology Park ("OTP") to Oxford Gene Technology
IP Limited, a leading provider of clinical research and diagnostic
solutions.
The Innovation Quarter is a differentiated offering within the
wider campus targeting emerging life science businesses with
smaller, more flexible space which can accommodate both wet and dry
labs. Covering 69,400 sq ft, it reached practical completion this
week and has achieved a BREEAM Excellent certification and an EPC A
rating.
Oxford Gene Technology, part of the Sysmex Corporation, a major
listed Japanese healthcare business, was founded in 1995 and has
expanded rapidly, outgrowing its current space on the neighbouring
Begbroke Science Park. It will pay an annual rent of GBP220,000,
equating to c. GBP20.40 psf for a 10 year term, with a break clause
and rent review at the end of the fifth year. The space will be
hybrid office and laboratory space and is let in shell condition
for the occupier to fit out.
This letting takes all completed space at OTP, let or under
offer, to 75%.
Ian Harris, Director of Asset Management, Ironstone Asset
Management, the Company's Investment Adviser said : "Oxford Gene
Technology is exactly the type of growing, life sciences business
that the Innovation Quarter at OTP was designed to attract; the
units are smaller, more flexible and more affordable than elsewhere
in Oxford but are very close to the academic and research
institutions in and around the University. Across OTP the Company
is uniquely positioned with a range of high quality, affordable and
well-located space, appealing to occupiers across the life sciences
spectrum."
Oxford Technology Park was acquired by Life Science REIT in May
2022. It now comprises four completed buildings totalling 173,200
sq ft and 325,700 sq ft of development space. Existing occupiers at
the park include The Native Antigen Company, a developer and
manufacturer of antigens and antibodies and Oxford Ionics, a
leading quantum computing business.
END
Enquiries:
+44 20 3011
Ironstone Asset Management - Investment Adviser 2160
Simon Farnsworth, Managing Director
Simon.farnsworth@ironstoneam.com
Joanna Waddingham, Head of Investor Relations
and Corporate Affairs
Joanna.Waddingham@ironstoneam.com
Link Company Matters Limited - Company Secretary
labs_cosec@linkgroup.co.uk
Panmure Gordon (UK) Limited - Joint Corporate +44 20 7886
Broker 2500
Alex Collins / Tom Scrivens
Jefferies International Limited - Joint Corporate +44 20 7029
Broker 8000
Tom Yeadon / Andrew Morris / Oliver Nott /
Harry Randall
+44 20 7397
G10 Capital Limited - AIFM 5450
Maria Baldwin
+44 20 7466
Buchanan - Financial PR 5000
Mark Court / Henry Wilson / Verity Parker
LifeSciencereit@buchanan.uk.com
Notes to editors
Life Science REIT plc is a specialist property business focused
on the UK's growing life science sector. The Company's portfolio of
assets is located across the "Golden Triangle" of research and
development hubs in Oxford, Cambridge and London's Knowledge
Quarter and its strategic vision is to become the property provider
of choice for life science companies in the UK.
Life Science REIT is addressing the acute demand-supply
imbalance for laboratory space in the "Golden Triangle", which is
characterised by low vacancy rates and prime rental increases. The
UK life science sector itself is benefiting from a buoyant
early-stage funding environment, driving demand for laboratory
space.
The Company's diverse portfolio of assets ranges from a 20-acre
science park currently under development through to fully let
buildings, with an important part of the Company's strategy being
the conversion of existing properties to laboratory space.
The Company's investment policy is focused on capital growth
whilst also providing a growing level of income.
Life Science REIT trades on the Main Market of the London Stock
Exchange under the ticker LABS.
Further information is available at
https://lifesciencereit.co.uk . To sign up for email alerts, please
visit https://lifesciencereit.co.uk/investors/ .
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