Life Science REIT has fully let the 57,000 sq ft Building 5 at Oxford Technology Park (OTP) to WAE Technologies.
The technology and engineering services provider has signed a 10-year lease on the space and is paying an annual rent of £1,146,000 – equivalent to £20.10/sq ft.
Life Science REIT reached practical completion of the BREEAM Excellent-rated Building 5 this week. The space has been fitted out as offices and R&D space by the occupier.
Ian Harris, director of asset management at Ironstone Asset Management, Life Science REIT’s investment adviser, said: “OTP’s combination of flexible, affordable, and best-in-class space as well as its proximity to leading, global life sciences institutions is compelling for a wide range of occupiers. WAE will be the largest occupier at OTP and its presence is a major step forward in delivering a vibrant and collaborative community at OTP.”
Life Science REIT acquired OTP in May 2022. The park comprises six completed buildings totalling 230,500 sq ft and 266,100 sq ft of development space.
