Life Science REIT has let 5,600 sq ft at the Innovation Quarter at Oxford Technology Park to Oxford Expression Technologies (QET).
The biotech company, which specialises in protein production for vaccine development, disease research and drug testing, will pay an annual rent of £258,200 (£46.50/sq ft) on a 10-year lease, which sets a new rental record for the park. The lease includes a rent review at the end of the fifth year.
The ground floor shell of the premises will be fitted out to CL2 laboratory specification and the first floor will provide office space for the biotech business.
Ian Harris, director of asset management at Ironstone Asset Management, Life Science REIT’s investment adviser, said: “OET is exactly the sort of growing, entrepreneurial business that we had in mind when the IQ was established. With a range of formats and sizes, OTP can cater to the demands of new businesses throughout their life cycle, so we look forward to working with OET as their business develops.”
Linda King, founder of OET, added: “ After a number of years based in Oxford Brookes’ Bioinnovation Hub, everyone at OET is delighted to be relocating to OTP in summer 2025. We will be moving into a fantastic facility expertly designed for our bespoke needs, which will benefit our staff, our customers and collaborators. The OTP site provides everything we need to support the continued growth and success of OET.”
