Thriving Science and Innovation Ecosystem Continues to Grow Outside the Golden Triangle

Discovery Park is emerging as a key player in the UK’s life science landscape, attracting global companies like Asymchem and fostering a thriving innovation ecosystem beyond the Golden Triangle. Image: Courtesy of Discovery Park

In the scientific community, a lab’s location can be critical to its overall success. Historically, the majority of UK life science investment happened inside the ‘golden triangle,’ but the tide is turning and the leasing statistics from 2024 back it up.

The golden triangle comprises the capital city of London and University heavyweight cities Oxford and Cambridge, which ranks highly in the top 30 life science markets global index, behind Boston and San Francisco. However, there has been increasing recognition for science parks in other parts of the UK. For example, Discovery Park was named one of six designated Life Sciences Opportunity Zones by the UK Government’s Office for Life Sciences in 2020, and is home to a thriving life science cluster outside the triangle.

Read more: Relocating to Success: The Role of Location in Lab Efficiency

Figures from a recent Savills report on Golden Triangle office and lab space revealed that lab space take up levels were significantly down in the first half of 2024, compared to 2023. London’s figures plummeted to 12,200 sf in H1 2024 compared to almost 100,000 sf the previous year. Of that, the majority interest was in dry lab and science-related office space. Similarly, Oxford also recorded a sharp decline in lab space from c.300,000 sf in 2023 to c.75,000 sf in 2024. The report presents that the majority of demand for lab space in the market has been derived from VC-backed early-stage occupiers, with 76 percent of deals recorded since 2021 below 20,000 sf.

Meanwhile Discovery Park attracted over 26,000 sf of lab take up from an entirely science community, this includes securing Asymchem, a global technology-driven contract development and manufacturing organization. In August 2024, Asymchem opened a European HQ at Discovery Park, in facilities previously occupied by Pfizer, marking its first site in Europe.

The reality of Pfizer scaling back operations at Discovery Park was disappointing but we tackled that challenge, attracting Asymchem among others and supporting three spin-outs of ex-Pfizer employees who created their own businesses based on site who are already thriving, expanding and recruiting.

Across the industry, we are seeing less funding and investment for start-ups as investors look at growing established assets. Businesses are nervous to commit to full-time space but I am proud to say Discovery Park is defying that trend.

Encouragingly we continue to see our tenants recruit and grow with us, expanding into larger lab space and achieving significant business success. Examples include cancer therapy research and development company RS & RS Scientific, and soil testing company Verdant Carbon which specializes in measuring organic carbon levels in agricultural soils. Additionally, biotech Logical Biological, which specializes in biological specimens for diagnostics and therapeutic research, upgraded its lab space with us for a third time this year after a 170 percent boost in international trade.

Discovery Park is driving the future of UK life sciences, providing a hub for innovation, investment, and growth. Image: Courtesy of Discovery Park

We are fostering a thriving community for life sciences through various initiatives and amenities. Our team provides start-ups and scale-ups with the infrastructure, knowledge, mentoring and networking opportunities they need to progress. Already we are a proud home to over 180 dynamic businesses.

The right location can accelerate research outcomes, foster partnerships, and drive commercial success but location is more than space alone. It can position a business and its research to thrive in a competitive landscape, and significantly influence access to resources, funding, and growth opportunities. Proximity to top academic institutions and access to a specialised talent pool is important, but the key is to be part of an innovation ecosystem.

This year we have completed two rounds of our free Discovery Spark program which offers growth and support for early stage businesses. Crucially we are nurturing networks of like-minded individuals who are contributing to our impressive UK science economy.

We can see that life sciences is being prioritised within the UK Government’s green paper on a modern industrial strategy and we acknowledge our role in pushing this forward. We truly believe in the quality of our offering and it is positive to see that reflected in the occupancy figures as we nurture an innovative UK science industry that is globally competitive.