Golden Triangle life sciences space to remain constrained
The supply of new space to accommodate growth in the UK life sciences so-called Golden Triangle is set to remain severely constrained for the foreseeable future.
Knight Frank has said that 56 percent of the life sciences development pipeline in the Golden Triangle — the area comprising Cambridge, Oxford and London — is still in its pre-planning phase, creating a 1.85 million-square-foot (172,000-square-metre) shortfall of life sciences space in Europe’s leading life sciences market.
Uncooperative local authorities, and a lack of access to critical infrastructure are inhibiting delivery of new space, says the advisory firm. In Cambridge alone, over 1 million square feet (93,000 square metres) of lab demand contrasts with a mere 24,700 square feet (2,230 square metres) of available space as developers grapple with planning constraints and faltering access to power supplies and other infrastructure required for new labs.
According to Knight Frank, demand for