London to lead U.K.’s life sciences sector
London’s life sciences sector has reached a level of momentum that looks unstoppable, according to CBRE’s inaugural report, Life Sciences London.
London, Oxford and Cambridge form the “Golden Triangle,” a pre-eminent global life sciences cluster.
CBRE concluded that a combination of emerging global trends, including the rise in global healthcare expenditure and the advancements in medical treatments, will drive the sector’s rapid expansion.
The property firm’s inaugural report, Life Sciences London, argues that increasing collaboration between the life sciences and tech sectors provides London with a distinct advantage over other global clusters.
London is also expected to benefit from the increasing trend of large pharmaceutical firms relocating their R&D facilities to urban clusters.
CBRE predicts this shift will result in further demand in London for space next to research institutions.
In 2018, UCL East is due to open in the Queen Elizabeth Olympic Park. And in July 2017, Cancer Research announced a 150,000-square-foot pre-let in Stratford and The London Cancer Hub is building a new world-class life sciences center in Sutton.
Other projects include the The Molecular Sciences Research Hub, the Michael Uren Biomedical Engineering Research Hub and the Translation & Innovation Hub, and The Queen Mary Bio Enterprises Innovation Centre in Whitechapel.
