Ellison purchase swells Triangle’s lab space market but problems remain

The company, a leading UK specialist in the STEM rental and purchase market, included the statistic in its latest Arc Market Databook review of 2025.

However, it cautioned, the lion’s share of the figure was accounted for by a small number of large commitments.

Chief among these was the Ellison Institute’s purchase of the 450,000 sq ft Daubney Project at Oxford Science Park.

Partner at Bidwells’ laboratory and office agency, Duncan May, said: “The Ellison Institute’s commitment is undoubtedly significant and long term in nature, and it reinforces Oxfordshire’s position within a globally recognised science and technology cluster.

But, he added, it would be wrong to characterise the overall picture for last year as buoyant overall.

“Demand was increasingly polarised between well-capitalised occupiers targeting prime, fitted laboratory space at premier campuses such as ARC Oxford, The West End and Harwell, whereas more cost-conscious requirements are looking for value across established science hubs such as Abingdon Science Park or Oxford Technology Park,” maintained May.

This two-tier pattern of demand could be attributed in part to reductions in venture capital funding limiting demand from start-ups and scale-ups, he continued.

Of the three key Golden Triangle city sites – London, Cambridge and Oxford – Oxford has been a particular source of complaint for companies seeking affordable lab spaces.

However, overall laboratory availability in the county of Oxfordshire stood at 27% at the end of 2025, said the Bidwells report. This is expected to rise in the near term, predicts the company, and be strengthened by major business commitments in the region and the county’s “deep institutional and infrastructure base”.

Prime rents in the Oxford’s existing office space rose though to £65 per sq ft by the end of 2025. City centre availability remained “constrained”, warned Bidwells, with 93,000 sq ft available but no units above 20,000 sq ft.

Commented May: “2025 was a mixed year for office and lab leasing in Oxfordshire. Funding conditions were tighter, decision-making slowed and, away from a small number of very large commitments, the occupational market was more selective than the headline take-up figure might suggest.

“Despite this, the early months of 2026 have seen a clear increase in enquiries and activity, which suggests that confidence is gradually returning. The fundamentals of the cluster remain strong, but the market remains disciplined and funding will continue to play a critical role in shaping demand.”

Pic: Oxford's Red Hall science and tech space, situated in the city's innovation district, is among the new sites to open recently