Investment Proposition

First listed REIT offering investors exposure to the UK Life Science sector.

The Theme

  • First UK listed REIT solely focused on the Life Science sector
  • Initially focused on Life Science clusters in the “Golden Triangle” of Oxford, Cambridge and London
  • The UK is at the forefront of life science in Europe, with four of the top ten global research universities, 6,300 businesses and 250,000 jobs
  • The market is relatively immature, with Oxford and Cambridge having c.5m SF of purpose-built laboratory stock at H1 2021 and London having only c.100,000 SF
  • In comparison, Boston and San Francisco had c.30m SF and c.28m SF respectively

Real Estate Fundamentals

  • Life Science real estate includes wet labs, dry labs, traditional offices, communal and co-working hubs and data-centres
  • Low vacancy rates, with no purpose-built laboratory space currently available in Oxford or Cambridge
  • 15-20m SF of additional office and laboratory space needed in the Arc over the next 20 years
  • Over the last ten years, prime rents have increased by 75% in Cambridge and 130% in Oxford
  • In London, prime rents are up by 113% in King’s Cross/Euston, 63% in Paddington and 55% in West London

The Team

  • Investment Adviser is Ironstone Asset Management
  • Industry experienced Board
  • Leading investment advisory team led by Simon Farnsworth (CBRE GI, GE and Westmount)
  • The senior management team are highly respected and experienced real estate professionals, including several members who have experience in building, operating and growing companies, including a listed REIT backed by strong sectoral trends in the UK
  • Excellent relationships with potential vendors, agents, banks, financial institutions and others

ESG

  • Global pandemic has focused attention on the Triple Helix1 working to fight disease
  • Catalyst for scientific communities by creating buildings conducive to solving global problems
  • To reduce the impact on the environment, the Company’s asset management approach will include energy efficiency and reduction programmes, tenant engagement and refurbishing and developing dutifully
  • The Company’s success in implementing its ESG strategy will be measured through key performance indicators

Why Now?

  • G9 economies are devoting an increasing % of GDP to Life Science – £435bn in 2020 (8.5% increase on 2019)
  • Forecast undersupply of Life Science real estate expected to lead to upward pressure on rents
  • UK Government’s Life Science Investment Programme brings increased investment up to £1bn
  • Strong growth in the Life Science sector, accelerated by the pandemic, is driving growth in the UK Life Science property sector
  1. Governments, universities and private companies.

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