Specialised life sciences parks are the most likely to retain their tenants going forward, new research has found.
A survey conducted by property consultancy Ridge has found science park-based tenants tend to stay at their existing facilities on a long-term basis if they are in an “ecosystem” near other relevant scientific tech businesses and academic institutions.
Liz Sparrow, partner and science and tech lead at Ridge, said: “Science parks need to accommodate both established businesses and start-ups if they are to create tech/science powerhouses.
“Furthermore, a large tech or science business cannot thrive in a location if the place where it operates doesn’t also sustain small players – and vice versa.”
The research also found that tenant retention levels could be further boosted by a site’s amenities, with 80% of survey respondents saying science parks are out of town, lack transport links and have a lower quality of local supply chains and entertainment facilities.
According to Ridge, one in five surveyed firms that were based at a science park want their workspace to be more attractive in terms of technology and environmental performance.
The firm also noted that a site’s environmental performance is likely to become an even bigger consideration than its cost. In terms of tech, tenant requirements range from smart buildings and automation, latest security systems through to 3D printers and digital twins.
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