The lack of life science space in Oxford and Cambridge is stifling the UK’s ability to capitalise on the growth of the sector.
Data collected by Bidwells showed availability was close to zero in June in both cities after demand surged by almost a quarter in the first half of this year.
Investor groups and chief executives have warned that the lack of lab space in the Oxford-Cambridge Arc is driving companies to cities such as Boston in the US, which have millions of square feet immediately available.
Sue Foxley, research director at Bidwells, said: “The government has grand ambitions to transform Britain into a scientific superpower, but the Oxford-Cambridge Arc is under threat of becoming a victim of its own meteoric rise, with the unicorns of tomorrow increasingly being locked out of mission-critical R&D space.”
