Lipton makes life sciences debut with £1.5bn jv
Lipton Rogers, the developer behind 22 Bishopsgate, has joined forces with London-based start-up Galileo Labs in a bid to gain a £1.5bn foothold in the life sciences market.
The pair plans to amass a £1.5bn life sciences property portfolio across the UK’s Golden Triangle over the next five years, with Lipton Rogers developing the lab spaces and Galileo Labs, founded by Oxford University graduate Ryan Matenchuk, operating them.
The jv has recruited Justin Cratty as design director. Cratty was a partner and global sciences lead for 15 years at Gensler, an architect behind the £1bn London Cancer Hub masterplan.
Lipton Rogers, the developer behind 22 Bishopsgate, has joined forces with London-based start-up Galileo Labs in a bid to gain a £1.5bn foothold in the life sciences market.
The pair plans to amass a £1.5bn life sciences property portfolio across the UK’s Golden Triangle over the next five years, with Lipton Rogers developing the lab spaces and Galileo Labs, founded by Oxford University graduate Ryan Matenchuk, operating them.
The jv has recruited Justin Cratty as design director. Cratty was a partner and global sciences lead for 15 years at Gensler, an architect behind the £1bn London Cancer Hub masterplan.
The jv will focus on sites in urban locations near universities, enabling easy access to academic resources, talent and collaboration opportunities for both start-ups and grow-on life sciences companies. The initial plan is to deliver “plug and play” laboratory facilities of 1,500-3,000 sq ft, with flexible leasing options.
Simon Tuddenham, managing director of Lipton Rogers, said: “The partnership brings together the hardware and software required to develop and operate first-class laboratory space. Developing projects of substance, pushing the boundaries of design, sustainability and usability is what we believe in.”
Matenchuk said: “We hear it all too often from scientists, there is a distinct lack of available laboratory space in the urban environment for science companies of all sizes.
“Our platform seeks to help scientists, from the ground up, through delivering and operating fully fitted and ready to occupy space in key locations. This collaboration reinforces our commitment to supporting the growth and success of life sciences companies in the UK, ultimately advancing healthcare, biotechnology, and scientific discovery.”
Researchers at Carter Jonas said earlier this week that the persistent shortage has driven development efforts across key life sciences hubs. An uptick in preletting activity is predicted as more schemes look set for completion in 2025-26.
Macfarlanes advised Galileo Labs; Mayer Brown and Fried Frank advised Lipton.
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