Modern, well-equipped facilities are vital for life science companies to foster world-class innovation and attract the top talent that drives the sector. However, there has been a chronic undersupply of lab space for London’s burgeoning life sciences sector since 2016. Until now, the high cost and intense competition for premium facilities near London’s research hubs have forced many early-stage companies to look elsewhere for suitable research space.

However, the future for London lab space is promising, according to MedCity – the life sciences cluster organisation for London, set up in 2014 by the Mayor of London and the city’s three Academic Health Science Centres.

Having previously reported on the looming shortage of lab space for fast-growing life science businesses and called on developers to build more, MedCity has commissioned and published an updated Lab Showcase Report. The research highlights numerous innovative districts emerging in the capital, including major new developments like Victoria House, which are focused on creating flexible, commercial lab spaces to meet the growing demand from life science tenants.

Phenomenal Growth

MedCity’s report shines a light on London’s phenomenal growth in the life sciences sector in the last five years, including:

• 7.1% growth in life sciences companies
• 4.4% growth in life sciences manufacturing sites
• 8.4% growth in R&D sites and 14.1% growth in employment at those R&D sites
• The largest increase in employment in life sciences in the UK of 29% (between 2011-2022)

Encouragingly for companies, the report predicts that lab space constructed in London will have nearly doubled to 2 million ft² by the end of 2026, compared to space constructed between 2021 and 2024. It also forecasts a 7-fold increase by 2032 to 7.2 million ft², of which 2.7 million ft² will be wet lab space.

Victoria House: At the Epicentre of London Lab Space

MedCity reveals that the largest volume of upcoming development is in London’s Knowledge Quarter, including the biggest development of wet lab space. The jewel in the Knowledge Quarter’s crown is undoubtedly Victoria House, a neoclassical, Grade II-listed building set in the world-renowned district of Bloomsbury.

Together with Oxford Properties, Pioneer Group has combined laboratory development and operation with venture building to transform Victoria House on Bloomsbury Square into 300,000 sq ft of contemporary office and lab space, where life sciences, technology entrepreneurs, academia, research, large pharma, and venture finance can collaborate.  

Victoria House’s location offers proximity to several world-renowned universities, hospitals, and medical research centres, including University College London, GSK, and Great Ormond Street Hospital. This encourages collaboration between these academic and medical institutions, top-tier investment capital, and a broad range of commercial life sciences companies. Through this space, London can capitalise on its scientific talent pool.

Since the 1800s, a striking number of pioneering institutions have been founded in Bloomsbury. Today, it remains a destination for renowned institutions and has deep connections to art and science. Find out why it’s the life sciences hub you need to know about here.

A Flexible Option for London Lab Space

As entrepreneurs and investors immersed in the life sciences, Pioneer Group understands the unique challenges life science companies face, and our mission is to transform how scientific entrepreneurs propel their ventures. With this in mind, we’ve cultivated an empowering ecosystem at Victoria House, engineered for rapid growth to maximise capital efficiency.

Nothing illustrates this more than our incubator laboratories on the seventh floor. Featuring both collaborative areas and quiet spaces, the versatile London lab space has been designed to adapt to businesses’ changing needs.

Early-stage businesses can choose to take up residence with just a single 1m bench in our Co-Lab, which provides access to state-of-the-art equipment and a full suite of administrative services—all available on a pay-as-you-go basis from day one. Then, as the business grows, it can move on to our private Flexi Labs or Flexi Labs Plus while still enjoying all the benefits and opportunities the Seventh Floor provides.

Larger companies can then move into our ready-to-occupy Premium Labs, fully furnished with associated offices that your teams can call their own. Finally, when companies feel they have outgrown the seventh floor’s offering, they can move elsewhere within the building to set up a bespoke lab space.

MedCity’s report highlights the vital importance of designing new labs with flexibility and high quality to accommodate diverse requirements and maintain a competitive edge.

With incubators Victoria House leading the way, the growing number of new developments will be at the core of the sector’s continued growth. It will ultimately strengthen London’s position at the forefront of global life sciences.