London's Life Sciences sector is thriving and needs room to grow

Imperial's White City Campus

Imperial's White City campus is key to delivering the space needed for London's booming life sciences sector, according to a major new report.

The study, commissioned by MedCity, urges life sciences businesses to co-locate with Imperial researchers at the Campus to ensure that London meets the future needs of industry.

Based on interviews and surveys with over 80 companies, the report indicates a need for at least 250,000 sq ft of work and laboratory space over the next 10 years. Financial barriers to developing the kind of specialist space required by industry means that the commercial property market alone is unlikely to meet demand.

The Translation & Innovation Hub, one of White City Campus’ flagship buildings, will bring together major corporate partners, new start-ups and fast-growth technology companies under one roof – offering laboratory facilities and office space to translate and commercialise research and ideas.

Scheduled to open in summer 2016, it forms part of a larger innovation ecosystem, managed by Imperial College ThinkSpace, which provides high-spec labs and workspaces to companies at every stage of their growth.

Engine of innovation

The report makes six key recommendations to improve the pipeline of specialist space:

• Support and promote access by life sciences R&D businesses to the newly-developed space at Imperial’s White City campus
• Support the inclusion of life sciences space at the British Library’s new development site.
• Plan to use existing research and hospital space more fully for commercial R&D
• Create a working group to champion the workspace needs of the life sciences industry
• Ensure that funding and town planning matters are progressed in a more strategic fashion
• Position London’s global offer more strongly in the context of the London-Oxford-Cambridge ‘golden triangle’ and greater south east region to raise the profile of its combined assets.

Imperial College Thinkspace offers high-spec labs and workspaces to companies at every stage of their growth.

Richard Wheeler, Imperial College London ThinkSpace’s Director of Business Development, said: “Our White City Campus is a huge, ambitious project based on the core understanding that co-location with academic research and collaboration with business are the engines of innovation and economic success.

"We’re delighted that this report has recognised the commitment Imperial has made in creating this extensive new mixed space, and we hope our success will encourage similar developments. We can’t afford to give the impression that London is full; businesses large and small want to be here and we must make sure we are providing the spaces they need.”

Sarah Haywood, CEO of MedCity, said: “The life sciences cluster of the greater south east is hugely dynamic, with research institutes, healthcare centres, small companies and major multinationals working together to commercialise innovative new approaches to better health. The right space in the right location is a huge part of that mix and we need to plan long-term to meet the need so that we are maximising the health and economic benefits of our expertise.”