Life Science REIT PLC New Lease at Oxford Technology Park (4500V)
04 Dezember 2023 - 8:00AM
UK Regulatory
TIDMLABS
RNS Number : 4500V
Life Science REIT PLC
04 December 2023
4 December 2023
LEI: 213800RG7JNX7K8F7525
Life Science REIT plc
("Life Science REIT" or the "Company")
New Lease at Oxford Technology Park
Building 6A let to Oxford Ionics Limited
Life Science REIT (LSE: LABS), the real estate investment trust
focused on UK life sciences properties, is pleased to announce the
letting of 29,661 sq. ft. across the entirety of Building 6A at
Oxford Technology Park ("OTP") to Oxford Ionics Limited ("Oxford
Ionics"), an Oxford University spinout and pioneer in quantum
computing. Oxford Ionics is an existing occupier at OTP and the new
lease is more than six times its existing footprint of 4,887 sq.
ft. at Building 1.
Oxford Ionics's proprietary Electronic Qubit Control technology
provides the most stable and scalable method for delivering quantum
computing technology. Its pioneering performance enables the design
of better catalysts used in processes such as drug discovery,
experimentation in test tubes or real-time simulation on
computers.
Building 6A is an innovative, high-tech hybrid building which
provides a contemporary office style frontage with flexible
internal space allowing the office, R&D laboratory and
production content of buildings to vary from 25% to 50% to suit a
range occupier requirements. It is targeting a BREEAM Excellent
certification.
Oxford Ionics will pay an annual rent of GBP593,220, equating to
GBP20.0 psf for a ten-year term, with a break clause and rent
review at the end of the fifth year.
Ian Harris, Director of Asset Management, Ironstone Asset
Management, the Company's Investment Adviser said: "Oxford Ionics
is a great example of how OTP can accommodate fast-growing life
sciences businesses by providing specialist space to meet their
needs as they evolve. At OTP, we are delivering units covering the
whole spectrum: from small, more flexible and affordable space to
larger hybrid buildings and plug and play lab space all in close
proximity to the academic and research institutions in and around
Oxford University."
Chris Ballance, CEO and Co-Founder of Oxford Ionics said: "We're
very excited to take this new space at Oxford Technology Park,
which will be our new HQ and the centre of our Quantum Computing as
a Service offering. With the capacity to accommodate 20 of our
advanced quantum systems, it will also provide space for our
world-class team to grow to 150 people."
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,
and Oxford Gene Technology, a provider of clinical research and
diagnostic solutions.
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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