5 February 2025
LEI: 213800RG7JNX7K8F7525
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Life Science REIT plc
("Life Science REIT"
or the "Company")
CFDX takes remaining floor at Rolling
Stock Yard
Life Science REIT (LSE: LABS), the real estate
investment trust focused on UK life sciences properties, has let
5,100 sq ft of fully fitted space at Rolling Stock Yard, located in
the heart of London's Knowledge Quarter, to CFDX Ltd ("CFDX"), a
precision neuroscience company, that uses AI to detect dementia
earlier than traditional methods.
CFDX has signed an eight-year lease with a
break after four years for the first floor, and are paying a rent
of £110 psf, taking occupancy at Rolling Stock Yard to
100%.
Since acquisition, Life Science REIT has
delivered two fully fitted laboratory options at Rolling Stock
Yard, with the other floor let to Beacon Therapeutics, a Syncona
backed company in 2023.
In its HY24 results announcement in September,
Life Science REIT detailed that it was under offer or in advanced
negotiations on £3.2 million of ERV which it expected to capture by
March 2025. Including new leases agreed with Pro Cam UK Limited at
Cambourne Park and Infleqtion at Oxford Technology Park, this
transaction brings total ERV captured to £0.8 million and the
Company expects to make further announcements over the coming weeks
with a number of lettings currently in advanced
negotiations.
Ian Harris,
Director of Asset Management at Ironstone Asset Management, the
Company's Investment Adviser, said: "CFDX is
the latest innovative life science business to take space at
Rolling Stock Yard. Demand for life science space remains
resilient, but sharply focused on quality, location and the right
specification. This transaction demonstrates the suitability of our
space for leading life science businesses."
Dr Hannah
Madan, Co-Founder CFDX, said: "The Ironstone
team has been fantastic, and were a key reason for our decision to
move to Rolling Stock Yard. This is an exceptional location,
and we are really excited about the way in which our business will
grow and develop in our new London home."
CFDX was founded in 2023 and is expanding from
LBIC (the London Bioscience Innovation Centre). Their move follows
a seed fundraising round which completed this month.
Rolling Stock Yard was acquired by Life Science
REIT in December 2021. It is a premium, nine-storey building near
St Pancras station in London, covering 53,900 sq ft.
END
Enquiries:
Ironstone Asset Management - Investment
Adviser
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+44 20 3011 2160
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Simon Farnsworth, Managing
Director
Simon.farnsworth@ironstoneam.com
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Joanna Waddingham, Head of Investor
Relations and Corporate Affairs
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Joanna.Waddingham@ironstoneam.com
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Link Company Matters Limited - Company
Secretary
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labs_cosec@linkgroup.co.uk
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Panmure Liberum Limited - Corporate Broker and Financial
Adviser
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+44 20 3100 2000
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Alex Collins / Tom
Scrivens
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G10
Capital Limited - AIFM
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+44 20 7397 5450
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Maria Baldwin
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FTI
Consulting - Financial PR
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+44 20 3727 1000
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Dido Laurimore / Richard Gotla /
Oliver Parsons
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LifeScienceReit@fticonsulting.com
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Notes to editors
Life Science REIT plc is a specialist
property business focused on the UK's growing life science sector.
The Company's portfolio of assets is located across the "Golden
Triangle" of research and development hubs in Oxford, Cambridge and
London's Knowledge Quarter and its strategic vision is to become
the property provider of choice for life science companies in the
UK.
Life Science REIT is addressing the
acute demand-supply imbalance for laboratory space in the "Golden
Triangle", which is characterised by low vacancy rates and prime
rental increases. The UK life science sector itself is underpinned
by strong structural drivers, including an ageing population and a
supportive regulatory environment as well as the growing
interdependence with technology, which is expanding the life
science spectrum, driving strong demand for laboratory
space.
The Company's diverse portfolio of
assets ranges from a 20-acre science park currently under
development through to fully let buildings, with an important part
of the Company's strategy being the conversion of existing
properties to laboratory space.
The Company's investment policy is
focused on capital growth whilst also providing a growing level of
income.
Life Science REIT trades on the Main
Market of the London Stock Exchange under the ticker
LABS.
Further information is available
at https://lifesciencereit.co.uk.
To sign up for email alerts, please visit https://lifesciencereit.co.uk/investors/.