Life Science REIT (LSE: LABS), the real estate investment trust focused on UK life sciences properties, announces that it has completed a new lease with Infleqtion (ColdQuanta UK Limited), a quantum technology business, for 7,500 sq ft of fully fitted space at the Innovation Quarter (“IQ”) at Oxford Technology Park (“OTP”). Infleqtion is the third quantum technology business to take space at OTP.
It follows an Agreement for Lease which was announced on 27 March 2024 and became effective on completion of the fit out.
This is the third letting at the IQ and the first letting of fully fitted space at OTP. It has been achieved at a record rent for the park, reflecting the bespoke nature of the fit out. The IQ provides smaller, more flexible space, ideally suited for emerging life science occupiers for whom a fully fitted option is highly attractive.
Ian Harris, Director of Asset Management at Ironstone Asset Management, the Company’s Investment Adviser, said:
“Infleqtion is a great addition to OTP where we are successfully building a cluster of AI, quantum computing and technology businesses. This letting demonstrates the appeal of the fully fitted concept and positions us for a roll out elsewhere at the IQ, extending the depth of the offering at OTP, which can now cater to a range of demand from start ups and scale ups, to well established, global science and technology businesses.”
Infleqtion uses atomic physics to build quantum computers and to integrate them across networks, delivering an ecosystem of devices and platforms. This next generation of computing power has the potential to transform the life science industry by significantly reducing drug development time and costs and demonstrates the growing interdependence between technology and life sciences.
OTP was acquired by Life Science REIT in May 2022. It comprises six completed buildings totalling 237,900 sq ft alongside 270,100 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.
The IQ covers 69,700 sq ft and comprises eleven units, one is due to launch as a café and co-working venue, in the new year. It is EPC A rated and is on track to achieve a BREEAM Excellent certification.
To become apart of the OTP community and for more information view the available space page: Oxford Technology Park.
To book a viewing, contact the Agents: Duncan May, Bidwells – M: 07879 883886, [email protected] and Christian Vecchione, Benedicts – 01865 883364, [email protected].
