GOLDEN INSIGHTS: KNIGHT FRANK AUSTRALIA’S HEALTHCARE AND LIFE SCIENCES TOUR
KEY TAKEAWAYS FROM THE TOUR INCLUDE: • The interconnected nature of the Life Sciences sector with wider technology and innovation streams, emphasising the importance of strategic curation and planning in precinct development. • Facilities visited were characterised by the prevalence of joint ventures between developers and researchers, mainly fuelled by speculative development to catalyse emerging precincts or attract larger research tenants. • Life sciences can generate its own capability and capacity with the right policy levers. The UK Catapult Program, for example has developed a novel apprenticeship training for bespoke cell and gene therapy roles (including fill and finish) using AI and other technologies for immersive training • Australian life sciences precincts can benefit from adopting a multidisciplinary approach, fostering collaborations between life sciences and other sectors. • Encouraging cross-sector partnerships can enhance innovation, attract investment, and create new market opportunities. The UK Life Sciences Study Tour provided invaluable insights into the critical role of commercialisation and translation in the life sciences cycle, the operational and governance frameworks required to support these activities, and the essential policy drives and public funding that underpin successful life sciences ecosystems. These learnings are directly applicable to the Australian context, offering a roadmap for developing a thriving life sciences sector that can compete on the global stage. Scan the QR code for further insights, or to download the Golden Insights: Cultivating Life Sciences Excellence Lessons from the UK’s Innovation Ecosystem 2024 Report.
In recent years we have seen growing investor interest in the healthcare and life sciences sectors within the commercial property market, and demand is only expected to strengthen. Interest in this asset class – once considered to be an ‘alternative’ to the traditional property sectors of office, industrial and retail – has amplified to such a degree that in 2022 Knight Frank established a dedicated national division within its Capital Markets business to specifically cater to our clients’ needs in the sector. Sam Biggins and Lawson Katiza led Knight Frank Australia’s inaugural Life Sciences Study Tour in May 2024 to the UK’s ‘Golden Triangle’. The tour encompassed site visits across four life sciences cities: London, Cambridge, Stevenage, and Oxford, allowing participants to observe and learn from some of the most advanced and successful life sciences ecosystems in the world. The tour was an outstanding success, far exceeding initial expectations. The insights gathered provided material for thought leadership and advocacy at both government and university levels, reinforcing Knight Frank’s position as industry leaders in the life sciences sector. Australia is a world leader in discovery research an area that is relatively well funded and occupied by non-commercial university and research institutes – typically working out of universities or research institutes’ land or infrastructure. Accordingly, the primary focus of the UK Life Sciences Study Tour was to probe the commercialisation and translation elements of the life sciences cycle. This focus is particularly relevant as it directly impacts the real estate infrastructure required to support the sector’s growth and sustainability. Understanding these elements is crucial for developing effective operations and governance frameworks that make life sciences assets functional and successful. Commercialisation in life sciences refers to the process of taking scientific research and innovation from the laboratory to the marketplace. This involves not only developing viable products but also ensuring they can be manufactured at scale, marketed effectively, and distributed widely. Real estate infrastructure plays a pivotal role in this process. Specialised facilities such as laboratories, research centres, and manufacturing units are essential for various stages of the commercialisation pipeline.
Contact: Sam Biggins 0410 979 075 Sam.Biggins@au.knightfrank.com Lawson Katiza 0403 856 651 Lawson.Katiza@au.knightfrank.com For further information, please contact:
Vanessa De Groot - Marketing & Communications, Knight Frank Vanessa.degroot@au.knightfrank.com +61 410 460211 Melanie Rusk-Dunn Service Line Marketer, Knight Frank Melanie.Rusk-Dunn@au.knightfrank.com 04300 823 84
62 – July / August 2024
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