Savills forecasts 5msf of new office and lab requirements from the life sciences sector in Europe

According to Savills latest research, using Pitchbook data, €13.2 billion ($15.6 billion) of venture capital was raised by European headquartered life sciences companies between 2014 and 2018, resulting in more than 650,000 square meters (7 million square feet) of office and lab deals across selected European life sciences markets between 2016 and 2020.

Savills calculates that every €1 billion ($1.2 billion) of venture capital investment creates 46,000 square meters (495,140 square feet) of life sciences real estate demand. Rolling this forward, the €10.2 billion ($12.0 billion) of venture capital invested during 2019 and 2020 indicates approximately 474,000 square meters (5.1 million square feet) of new requirements from the life sciences sector will emerge between now and 2022.

New office space supply of 5.2 million square meters (56 million square feet), which is distributed across 24 markets in Europe, is due to be completed this year, with a similar amount o