Last checked at 4 Jan 2024 07:00
4 January 2024
LEI: 213800RG7JNX7K8F7525
Life Science REIT plc
("Life Science REIT" or the "Company")
New Lease at Oxford Technology Park
Innovation Quarter Letting to Quantum Advanced Solutions Limited
Life Science REIT (LSE: LABS), the real estate investment trust focused on UK life sciences properties, is pleased to announce the letting of 5,551 sq. ft. at the Innovation Quarter ("IQ") at Oxford Technology Park ("OTP") to Quantum Advanced Solutions Limited ("Quantum Solutions"), an expert in quantum dot sensors/materials development and manufacturing with a range of life science and technology clients, including Merck KGaA, Panasonic Corporation, Nordson, Sony, Imec and the University of Oxford.
The IQ is a differentiated offering within the wider OTP campus targeting emerging life science businesses with smaller, more flexible space which can accommodate both wet and dry labs, offices and light production. Covering 69,700 sq. ft., the IQ reached practical completion in August this year; it is EPC A rated and is on track to achieve a BREEAM Excellent certification.
Quantum Solutions provides quantum dot sensors and materials to extend the sensitivity of silicon sensors with a wide range of applications such as medical imaging. Established in 2017, Quantum Solutions has been growing rapidly and has chosen Oxford for its new facilities to be closer to existing and prospective customers. Quantum Solutions will pay an annual rent of £122,122, equating to £22.0 psf for ten years, with a break clause and rent review at the end of the fifth year.
Ian Harris, Director of Asset Management at Ironstone Asset Management, the Company's Investment Adviser, said: "This is the second letting at the Innovation Quarter at OTP, proving the concept that emerging life science businesses want more flexible and more affordable space. OTP's location, close to the academic and research institutions of Oxford and its proximity to Quantum Advanced Solutions' customer base, was key to their decision to expand with OTP."
Marat Lutfullin, CEO at Quantum Advanced Solutions said: "This signifies a pivotal moment for Quantum Solutions, as we embark on a significant expansion of our R&D and manufacturing efforts to bring our sensor and materials products to an increasingly global customer base. The modern facilities at OTP, coupled with their flexible fit-out capabilities, provide an ideal setting for the establishment of our unique and innovative operations. We are honoured to be in close proximity to Oxford University and its vibrant ecosystem."
OTP was acquired by Life Science REIT in May 2022. It now comprises five completed buildings totalling 173,400 sq. ft. and 333,200 sq. ft. of development space. Existing occupiers at the park include The Native Antigen Company, a developer and manufacturer of antigens and antibodies, Oxford Gene Technology, a provider of clinical research and diagnostic solutions, and Oxford Ionics, a leading quantum computing business.
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Enquiries:
Ironstone Asset Management - Investment Adviser | +44 20 3011 2160 |
Simon Farnsworth, Managing Director Simon.farnsworth@ironstoneam.com | |
Joanna Waddingham, Head of Investor Relations and Corporate Affairs | |
Joanna.Waddingham@ironstoneam.com | |
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Link Company Matters Limited - Company Secretary |
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labs_cosec@linkgroup.co.uk |
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Panmure Gordon (UK) Limited - Joint Corporate Broker | +44 20 7886 2500 |
Alex Collins / Tom Scrivens | |
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Jefferies International Limited - Joint Corporate Broker | +44 20 7029 8000 |
Tom Yeadon / Andrew Morris / Oliver Nott / Harry Randall
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G10 Capital Limited - AIFM | +44 20 7397 5450 |
Maria Baldwin | |
Buchanan - Financial PR |
+44 20 7466 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/.