Life Science REIT (LABS)

Sector:

Real Estate

Index:

FTSE Small Cap

41.80p
   
  • Change Today:
    -0.40p
  • 52 Week High: 68.60p
  • 52 Week Low: 31.50p
  • Currency: UK Pounds
  • Shares Issued: 350.00m
  • Volume: 977,692
  • Market Cap: £146.30m

Life Science REIT completes new lease at Oxford Technology Park

By Josh White

Date: Monday 14 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Life Science REIT announced on Monday that it has completed a new lease with quantum technology company Infleqtion for 7,500 square feet of fully-fitted laboratory space at the Innovation Quarter in Oxford Technology Park (OTP).
The London-listed real estate investment trust said it was the first letting of fully-fitted space at OTP, and was achieved at a record rent for the park.

Infleqtion, the third quantum technology business to take space at OTP, develops quantum computers and networks using atomic physics, with potential applications in reducing drug development times and costs in the life sciences industry.

The lease was finalised following the completion of a fit-out, part of an agreement for lease announced in March.

Life Science REIT said the deal marked the third letting at the Innovation Quarter, which was designed to offer flexible space for emerging life science companies.

The transaction also reduced Life Science REIT's target estimated rental value (ERV) to be captured by March 2025 to £2.9m, following recent leasing activity at Cambourne Park.

OTP, acquired by Life Science REIT in May 2022, is home to companies such as Oxford Ionics, Oxford Gene Technology, and the Native Antigen Company.

The park features six completed buildings with further development underway, with Life Science REIT positioning it as a hub for quantum technology and life sciences innovation.

"Infleqtion is a great addition to OTP where we are successfully building a cluster of AI, quantum computing and technology businesses," said Ian Harris, director of asset management at Life Science REIT's investment adviser, Ironstone Asset Management.

"This letting demonstrates the appeal of the fully fitted concept and positions us for a roll out elsewhere at the IQ, extending the depth of the offering at OTP, which can now cater to a range of demand from start ups and scale ups, to well established, global science and technology businesses."

At 0947 BST, shares in Life Science REIT were up 2.53% at 40.5p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

LABS Market Data

Currency UK Pounds
Share Price 41.80p
Change Today -0.40p
% Change -0.95 %
52 Week High 68.60p
52 Week Low 31.50p
Volume 977,692
Shares Issued 350.00m
Market Cap £146.30m

LABS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
13.68% below the market average13.68% below the market average13.68% below the market average13.68% below the market average13.68% below the market average
4.00% above the sector average4.00% above the sector average4.00% above the sector average4.00% above the sector average4.00% above the sector average
Price Trend
35.53% below the market average35.53% below the market average35.53% below the market average35.53% below the market average35.53% below the market average
53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average
Income
11.38% below the market average11.38% below the market average11.38% below the market average11.38% below the market average11.38% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Growth
74.28% above the market average74.28% above the market average74.28% above the market average74.28% above the market average74.28% above the market average
86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average

LABS Dividends

  Latest Previous
  Interim 2nd Interim
Ex-Div 03-Oct-24 04-Apr-24
Paid 31-Oct-24 13-May-24
Amount 1.00p 1.00p

Trades for 31-Oct-2024

Time Volume / Share Price
16:19 175,000 @ 42.50p
16:35 194,002 @ 41.80p
16:35 15,264 @ 41.80p
16:35 396 @ 41.80p
16:35 766 @ 41.80p

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