Life Science REIT (LSE: LABS), the real estate investment trust focused on UK life sciences properties, announces that is has signed an Agreement for Lease of 5,600 sq. ft. at the Innovation Quarter (“IQ”) at Oxford Technology Park (“OTP”) with Oxford Expression Technologies Limited (“OET”), a biotech company specialising in protein production for vaccine development, disease research, and drug testing.
Life Science REIT, through its Investment Adviser Ironstone Asset Management, will now fit out the ground floor shell of the premises to CL2 laboratory specification and the first floor as fitted offices. The lease will be granted on completion of the works in Q2 this year.
The IQ is a differentiated offering within the wider OTP campus. It targets emerging life science businesses seeking smaller, more flexible space which can accommodate both wet and dry labs, offices and light production. Covering 69,700 sq. ft., the IQ is home to innovative businesses such as Infleqtion, Oxford Gene Technology and Quantum Advanced Solutions.
On completion, this lease will bring total ERV captured since the Company’s HY24 results announcement in September 2024 to £1.5 million.
Ian Harris, Director of Asset Management at Ironstone Asset Management, the Company’s Investment Adviser, said:
“OET is exactly the sort of growing, entrepreneurial business that we had in mind when the IQ was established. With a range of formats and sizes, OTP can cater to the demands of new businesses throughout their life cycle, so we look forward to working with OET as their business develops.”
Linda King, Founder, OET said:
“After a number of years based in Oxford Brookes’ Bioinnovation Hub, everyone at OET is delighted to be relocating to OTP in summer 2025. We will be moving into a fantastic facility expertly designed for our bespoke needs, which will benefit our staff, our customers and collaborators. The OTP site provides everything we need to support the continued growth and success of OET.”
Spun out of Oxford Brookes University and the Natural Environment Research Council (NERC) in 2006, OET has commercialised products such as flashBAC™, which plays a vital role in the pharmaceutical and academic sectors by enabling high-quality protein production.
To become apart of the OTP community and for more information view the available space page.
To book a viewing, contact the Agents: Duncan May, Bidwells – M: 07879 883886, [email protected] and Christian Vecchione, Benedicts – 01865 883364, [email protected].
