Stevenage, Milton Keynes, Slough and Luton could present growing opportunities for future life sciences developments, according to a new index commissioned by McLaughlin & Harvey and produced by ING.
Although the first ‘Alchemy Towns’ Index, which ranks the top 40 UK towns and cities for life sciences development potential, places London, Oxford and Cambridge at the top, other areas show growing potential.
Stevenage, Luton, Milton Keynes and Slough all rank within the top 20 places in the index thanks to their proximity to the UK’s largest concentration of life sciences anchors, investors, universities and hospitals.
These areas also boast other advantages, such as the affordability and availability of housing for life sciences staff and impressive digital infrastructure.
Alan Mackenzie, lead for life sciences and commercial at McLaughlin & Harvey, said: “The UK’s leading life sciences locations remain world class, but scientific excellence alone will not be enough on its own to determine where the sector grows next. Places that can combine talent with homes, infrastructure and viable development opportunities are ideally placed to accommodate growing businesses and attract investment.”
Andy Williams, chair of the Oxford-Cambridge Supercluster board, added: “We welcome research that looks at the wider conditions needed to support growth across the Oxford-Cambridge region. Cambridge and Oxford hold extraordinary concentrations of scientific and commercial expertise. Stronger links between them, and the towns around them, can help growing businesses access mentors, skills, infrastructure and investment across a much larger area, while allowing more places to share in the region’s growth.”
Natalia Gospodinova, associate director at Linesight, said: “Location strategies are becoming increasingly important, with organisations looking beyond cost alone to assess long-term growth potential. Access to skilled talent, supportive local policies, and a business environment that encourages investment are key considerations. The most attractive locations also offer a strong return on investment, the capacity to scale, a smooth and predictable planning process, reliable utility infrastructure, and the availability of suitable land and development sites.”
