Key Takeaways
- • Cambridge achieved record science and innovation leasing of 166,689 sq ft in Q1 2026, representing 200% above its five-year quarterly average and marking its strongest quarter on record.
- • UK Golden Triangle science and innovation take-up reached 234,779 sq ft in Q1 2026, 43.2% above the five-year average and 6.0% ahead of Q1 2025, despite being below Q4 2025's exceptional 610,350 sq ft (which included the Ellison Institute transactions at Oxford Science Park).
- • Three major Cambridge transactions anchored Q1: Cambridge Aerospace's 81,528 sq ft letting at Bourne Quarter; Bruntwood SciTech's 41,000 sq ft Da Vinci Building lease to Cellular Origins; and 4 Base Bio's 36,597 sq ft deal at Q-Arc, Cambridge Science Park.
- • London science and innovation take-up recovered to 22,100 sq ft across five deals in Q1 after a blank Q4 2025, with AI take-up specifically reaching 313,000 sq ft; major tenants include Databricks (136,300 sq ft pre-let at Network W1) and Gilead Sciences (50,000 sq ft at 1 Triton Square).
- • Market momentum indicators remain strong: 85,600 sq ft of space is under offer and 145,000 sq ft of active lab and office requirements are live in the market, signaling sustained leasing demand through the remainder of 2026.
Summary
Cambridge's science and innovation real estate market posted record-breaking performance in the first quarter of 2026, with total leasing activity of 166,689 sq ft—more than double the five-year quarterly average of 55,267 sq ft. This achievement reflects sustained institutional and corporate demand for laboratory and specialized office space within the UK's premier life sciences cluster. The quarter's strength underscores Cambridge's competitive position as a destination for global innovation-focused enterprises seeking advanced research and development facilities.
Across the broader UK Golden Triangle—comprising London, Oxford, and Cambridge—science and innovation leasing totaled 234,779 sq ft in Q1 2026, exceeding the five-year average by 43.2% and outpacing the prior-year quarter by 6.0%. While this total lagged Q4 2025's exceptional 610,350 sq ft (which was skewed by large Ellison Institute transactions at Oxford Science Park), underlying demand metrics demonstrate sustained market momentum independent of anomalous transactions. The quarter was anchored by three significant Cambridge lettings: Cambridge Aerospace committed to 81,528 sq ft at Bourne Quarter; Bruntwood SciTech completed a 41,000 sq ft letting of the Da Vinci Building at Melbourn Science Park to Cellular Origins for its new global headquarters; and 4 Base Bio executed a 36,597 sq ft transaction at Q-Arc, Cambridge Science Park.
London's science and innovation market rebounded with 22,100 sq ft of take-up across five deals in Q1, recovering from a blank fourth quarter in 2025. The capital's expanding AI sector drove significant office demand, with combined AI take-up reaching 313,000 sq ft during the period. Key London transactions included Databricks' pre-lease of the entire 136,300 sq ft office portfolio at Network W1 and Gilead Sciences' 50,000 sq ft office commitment at British Land and RLAM's 1 Triton Square, both signaling corporate confidence in London's innovation infrastructure.
Forward-looking market indicators suggest sustained demand momentum. Knight Frank reports 85,600 sq ft of space already under offer and 145,000 sq ft of active lab and office requirements live in the market, positioning the Golden Triangle for continued strong leasing volumes through the remainder of 2026. This pipeline strength reflects both organic business expansion among existing tenants and continued geographic diversification into the region by large multinational life sciences and technology enterprises seeking specialized research and development capacity.
Across the broader UK Golden Triangle—comprising London, Oxford, and Cambridge—science and innovation leasing totaled 234,779 sq ft in Q1 2026, exceeding the five-year average by 43.2% and outpacing the prior-year quarter by 6.0%. While this total lagged Q4 2025's exceptional 610,350 sq ft (which was skewed by large Ellison Institute transactions at Oxford Science Park), underlying demand metrics demonstrate sustained market momentum independent of anomalous transactions. The quarter was anchored by three significant Cambridge lettings: Cambridge Aerospace committed to 81,528 sq ft at Bourne Quarter; Bruntwood SciTech completed a 41,000 sq ft letting of the Da Vinci Building at Melbourn Science Park to Cellular Origins for its new global headquarters; and 4 Base Bio executed a 36,597 sq ft transaction at Q-Arc, Cambridge Science Park.
London's science and innovation market rebounded with 22,100 sq ft of take-up across five deals in Q1, recovering from a blank fourth quarter in 2025. The capital's expanding AI sector drove significant office demand, with combined AI take-up reaching 313,000 sq ft during the period. Key London transactions included Databricks' pre-lease of the entire 136,300 sq ft office portfolio at Network W1 and Gilead Sciences' 50,000 sq ft office commitment at British Land and RLAM's 1 Triton Square, both signaling corporate confidence in London's innovation infrastructure.
Forward-looking market indicators suggest sustained demand momentum. Knight Frank reports 85,600 sq ft of space already under offer and 145,000 sq ft of active lab and office requirements live in the market, positioning the Golden Triangle for continued strong leasing volumes through the remainder of 2026. This pipeline strength reflects both organic business expansion among existing tenants and continued geographic diversification into the region by large multinational life sciences and technology enterprises seeking specialized research and development capacity.
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