Life Science Partnership Reveals Expansion Plans In Cambridge
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Cambridge is already renowned for its highly educated residents, with its university being one of the best in the world. Indeed, with so many refined and knowledgeable people graduating here, it makes sense to provide good job opportunities within the local area.
This could be why life science group BioMedTech, along with GW Pharmaceuticals, has revealed plans to take over a significant amount of space within a Cambridge building, in hopes to attract some of the leading professionals in the field within this sought-after area.
According to Business Weekly, they have acquired more than 7,300 sq ft of office space at Endurance House on Vision Park in Histon, situated on the edge of the city.
The office space has been let by Cheffins at a rate of £26 per square foot. Director at the letting agency Edward Dodson told the news provider: “We expect these types of deals to continue in Cambridge and the surrounding area as the market still sees activity which has been consistently underpinned by a lack of stock in the correct locations.”
He went on to say that although Brexit is creating uncertainty among all businesses, “we are still seeing agreed leases and the standard take-up rates for office space”.
This could explain why both leases went so quickly, with CHS Group, which left the ground and first floors of the East Wing to the companies, stating there was concern the space would take time to fill.
However, sales and marketing manager of the CHS Group Martin Dickson stated: “Edward Dodson and the Cheffins team have been extremely professional and to discover such strong companies so efficiently has really helped.”
Both companies were located in Vision Park before these deals were made. However, the life science business wanted another working space, while GW Pharmaceuticals needed somewhere to expand its offices.
This year could present great opportunities for life science development, as the industry is set to become the recipient of plenty of investment.
North-east Scotland, in particular, is expecting to receive as much as £40 million in finance to help the sector develop at a faster rate here.
The money, half of which will come from both the UK and Scottish governments, will be used to build the Bio-therapeutics Hub for Innovation in Aberdeen. ONE Life Sciences has also announced it will plough £3.6 million into the facility, as it believes the hub will “realise the opportunity to collaborate and innovate to bring forward the next generation of medical therapies and products”.
Indeed, the government appreciates how important life science is to the country, as secretary of state for health and social care Matt Hancock recently called for those working in the health-tech sector to “complement our world-leading life science”.
To help life science companies capitalise on investment opportunities, it is essential they make use of effective sales and marketing specialists. Not only can life science consulting companies provide expertise into lead generation, telemarketing, and sales techniques, they can also conduct research, provide analysis of data, and give companies a global reach. This will enable them to expand their influence without any geographical boundaries.