UK scientific labs and Life Sciences firms are set to receive billions of pounds of funding from some of the world’s biggest property investors. This comes as a boost to the Government’s goal of turning the UK into a “science superpower”, particularly as they slash regulations after leaving the EU.
US property developer and investor Tishman Speyer, which owns major landmark buildings like the Rockefeller Center, along with biotechnology investment firm Bellco Capital, has raised a $3billionn (£2.4billion) capital to purchase and develop buildings in the UK that will be used for life sciences.
These include both highly advanced laboratories and traditional office spaces that are located near key research hubs.
The companies stated that the UK will be their second-biggest target after the US, and estimate that the two firms could spend as much as $6billion (£4.8billion) through their joint venture, called Breakthrough Properties.
Rob Speyer, chief executive of Tishman Speyer co-chairman of Breakthrough, said: “We couldn’t be more excited about the future of the UK today.
“There is capital coming in to support science, government support and expertise, we’re just following the science.”
This comes as major Canadian investor Brookfield Asset Management launched a life sciences property platform targeted at the UK.
This platform, named Advanced Research Clusters, or Arc, brings all of Brookfield’s scientific assets in the UK under one roof.
These include the Harwell Science and Innovation Campus south of Oxford, a massive 1.6 million square feet of laboratory and office space where scientists focus on sectors including Space, Clean Energy, Life Sciences and Quantum Computing.