Life Science REIT has let two units at Oxford Technology Park.
Oxford Gene Technology, part of listed Japanese healthcare business Sysmex, has taken 10,765 sq ft at the Innovation Quarter.
It will pay an annual rent of £220,000, equating to around £20.40 per sq ft, for a 10-year term, with a break clause and rent review at the end of the fifth year.
The space will be hybrid office and laboratory space and is let in shell condition for the occupier to fit out.
The letting takes completed space at OTP, let or under offer, to 75%.
The development, which reached practical completion this week, comprises 70,000 sq ft of flexible space for smaller companies that need wet and dry labs.
The development has achieved a BREEAM Excellent certification and an EPC A rating.
Oxford Gene Technology, which was founded in 1995, said it was outgrowing its current space on the neighbouring Begbroke Science Park.
Ian Harris, director of asset management at the REIT’s investment adviser, Ironstone Asset Management, said: “Oxford Gene Technology is exactly the type of growing, life sciences business that the Innovation Quarter at OTP was designed to attract; the units are smaller, more flexible and more affordable than elsewhere in Oxford but are very close to the academic and research institutions in and around the university.”
Oxford Technology Park was acquired by Life Science REIT in May 2022. It now comprises four completed buildings totalling 173,200 sq ft, with a pipeline of 325,700 sq ft.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
