Life Sciences

Life science companies require flexible property solutions. Early-stage firms often seek short, adaptable leases due to rapid changes in headcount and funding, while established corporates may commit to longer terms. Most avoid forward commitments to new developments, so speculative development is common in the sector.

Life science buildings require highly specialised property features to support innovation and growth. Key requirements include:

• High-specification spaces – including wet labs, dry labs, write-up areas, higher floor-to-ceiling heights, and robust power supplies.
• Designated loading capabilities – clean, unobstructed, and easily accessible areas for equipment deliveries, materials, and waste disposal.
• Flexible, multi-functional layouts – adaptable spaces that can evolve with occupier needs and support long-term growth.
• Clustering potential – proximity to other life science businesses, academic institutions, and skilled professionals to foster collaboration and innovation.

Purpose-built facilities are best placed to meet these needs, ensuring life science occupiers can thrive in a competitive, talent-driven sector

In order to repurpose an existing office building, there are a number of key questions that should be asked:

• Where is the building? Innovation businesses must want to locate there. Geographically located clusters with key anchors such as universities, teaching hospitals, and institutions are essential. Do companies need to co-locate near them? If the location requirement is met, you can ask yourself
• Are the bones of the building suitable for conversion?
  o    Accessibility – suitable for deliveries
  o    Appropriate floor loading capacity
  o    Suitable slab to slab height
  o    Adequate riser space
  o    Back of house space
  o    Suitable power / back up power
  o    Suitable drainage
  o    Height constraints for flues
• Environmental Considerations:
  o    Good ventilation / air filtration
  o    Appropriate drainage systems
  o    Waste disposal infrastructure
• Future Proofing:
  o    Can the building support the life cycle journey of occupiers?
  o    Is it suitable for modular design?

Case Studies

These examples illustrate that, with the right location and building fundamentals, office conversions can successfully deliver high-quality, future-ready life science environments.

17 Columbus Courtyard, Canary Wharf: This landmark building was successfully repositioned as a life sciences destination, demonstrating the importance of location, robust infrastructure, and adaptability. The project highlights how a prime office asset in Canary Wharf was transformed to meet the technical and operational needs of life science occupiers, including enhanced loading capabilities and flexible lab-ready spaces.  

Victoria House, Bloomsbury: Pioneer Group and Oxford Properties are transforming this Grade-II listed building into a 300,000 sq ft life sciences hub. The project demonstrates how heritage office buildings can be adapted for modern science and technology uses, with a focus on futureproofing, sustainability, and supporting the full life cycle of innovative occupiers. 

Life science rental values in the UK differ widely depending on both location and the type of facility. Fitted laboratory spaces, particularly in the Golden Triangle (Oxford, Cambridge, and London), attract notable "lab premiums" due to the higher costs of construction and specialist fit-out.

• Location Impact: Rental rates are highest in the Golden Triangle, with Oxford and London leading the way compared to other regions.
• Lab Premiums: Purpose-built and fitted laboratory spaces typically command rents that are 65–75% higher than standard office accommodation, with the exact premium varying by submarket and specification.

• Oxford & Cambridge: World-renowned for research, talent, and innovation, setting the benchmark for the sector.
• London: Home to institutions like the Francis Crick Institute and Barts but faces challenges with high construction costs and rents.
• Other clusters: Tees Valley (biomanufacturing), Hertfordshire (cell & gene therapy), Birmingham (data-driven health), Manchester (diagnostics), Scotland (precision medicine), Leicester (rehabilitation).

Location is fundamental for life science companies because their growth is unpredictable and closely tied to access to research hubs, talent, and sector-specific ecosystems. Unlike traditional office users, life science occupiers need to be near leading universities, hospitals, and innovation clusters to support every stage of their development—from R&D to commercialisation.

Much of the demand comes from venture capital-backed companies, which can scale quickly as they secure funding. This creates a need for flexible, high-quality lab and office space within established ecosystems.

• Over 5,600 life sciences businesses operate in the UK, including all top 25 global pharmaceutical companies.
• The sector is valued at £94 billion and employs more than 300,000 people.
• The UK is third globally for inward investment and leads Europe in life sciences finance.
• Exports in medicinal and pharmaceutical products reached £26.1 billion in 2023.

• Strong collaboration between industry, academia, government, and the NHS.
• Generous government support, tax relief, and a world-class regulatory environment.
• Ambitious 10-year Life Sciences Vision to drive investment and innovation.

Examples of recent investments include:

• Novartis: NHS partnership to deliver a new cholesterol-lowering drug to 300,000+ patients.
• UCB: £1 billion investment in a major UK R&D hub.
• BioMed Realty: £850 million to double Cambridge lab and office space, creating up to 2,700 jobs.