The science park market will grow substantially over the next few years, according to research by Lambert Smith Hampton.
The report predicts that the government’s attempts to increase its research and development spend will lead to the establishment of 12 new science parks by 2008 – an increase of 16% on today.
The actual expansion in science park property could be even greater, as 62% of existing parks have room for future developments.
The government is concerned that investment in R&D in the UK is substantially lower than in every other major industrialised economy. The UK spends £20bn on R&D, representing 1.85% of domestic product, compared with 2.5% in Germany and 2.75% in the US.
