Tom Mellows
Head of UK Science, Occupier Representation, Leasing and Development, Savills
Real estate company empowers life science organisations to innovate, supporting them to navigate the growing complexity and financial pressures facing the sector.
The Covid-19 pandemic showcased the UK’s excellent life sciences ecosystem, with world-leading research contributing to the rapid development of vaccines. This success supercharged investment in the sector, as investors sought to capitalise on the UK’s potential. However, research takes time, and the investment landscape has been challenging over the last 3-4 years..
“Venture capital investment is inherently cyclical, and we have seen the consequences of the post-Covid investment boom,” explains Tom Mellows, Head of UK Science, Occupier Representation, Leasing and Development at Savills. “Smaller pioneering life science companies have been operating under constrained venture capital and mounting operational pressure.”
Technology and emerging life science innovation
However, over the last year the prospects for the sector have started to turn the corner. “We’re seeing a real convergence between life sciences and technology,” says Mellows. “Big tech is increasingly stepping into the space, bringing significant capital and new technologies that could accelerate research and innovation.”
This convergence extends into and beyond AI, with emerging innovation including advanced materials, robotics and laboratory automation, which Mellows explains is creating an appetite amongst venture capitalists. “It’s an exciting time for the sector,” he explains. “As new technologies, investment and scientific disciplines converge, there is real potential for life sciences to enter a new phase of growth, which will require additional infrastructure and support.”
The buildings behind the breakthroughs
Occupiers increasingly need the flexibility to scale up or down as well as deploy new technologies and equipment. “A successful landlord is not simply providing space but becoming embedded into the wider life sciences ecosystem,” explains Mellows.
Development in this sector is challenging, with lengthy planning processes, rising construction costs and increasingly complex occupier requirements. “Occupiers require a landlord who is willing to provide operational support and flexibility as well as facilitate collaboration through events in the building.”
For life sciences companies, partnering with a real estate specialist with established science and technology sector expertise and in-depth market knowledge can help them to navigate these ongoing challenges, establishing the environment needed to thrive.
Discover Savills Science Expertise Here: https://www.savills.co.uk/sectors/science-and-technology.aspx
