REG - Life Science REIT - Rolling Stock Yard fully let

Life Science ReitAnnouncement

27/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250627:nRSa6386Oa&default-theme=true

RNS Number : 6386O  Life Science REIT PLC  27 June 2025

27 June 2025

LEI: 213800RG7JNX7K8F7525

Life Science REIT plc

("Life Science REIT" or the "Company")

Rolling Stock Yard fully let, with Wayve Technologies taking the remaining two
floors

Life Science REIT (LSE: LABS), the real estate investment trust focused on UK
life sciences properties, has let 10,500 sq ft of space at its Rolling Stock
Yard asset, located in London's Knowledge Quarter, to Wayve Technologies Ltd
("Wayve"), a pioneer in Embodied AI for automotive and a leader in AI in the
UK.

Wayve has signed a lease for just over five years, with a break in November
2028, for floors seven and eight, and are paying a rent of £84.50 psf. The
transaction follows the vacation of Xero Limited, just three months ago. As a
result, Rolling Stock Yard is now fully let.

Ian Harris, Director of Asset Management at Ironstone Asset Management, the
Company's Investment Adviser, said: "As a pioneer in AI and leader in the
field of automated driving, Wayve is a perfect fit for the portfolio, and we
are delighted to welcome them to Rolling Stock Yard. The speed with which we
have re-let this remaining space is a testament to the quality of the
building, the strength of its location, and the resilience of demand for space
of this size."

Wayve was founded in 2017 and in May 2024, it announced a +$1 billion series C
investment round, led by SoftBank Group, with contributions from NVIDIA,
Microsoft and Uber.

Rolling Stock Yard was acquired by Life Science REIT in December 2021. It is a
premium, nine-storey building near St Pancras station in London, covering
53,900 sq ft.

 

END

 

Enquiries:

 Ironstone Asset Management - Investment Adviser                       +44 20 3011 2160
 Simon Farnsworth, Managing Director

 Simon.farnsworth@ironstoneam.com
 Joanna Waddingham, Head of Investor Relations and Corporate Affairs
 Joanna.Waddingham@ironstoneam.com

 Link Company Matters Limited - Company Secretary
 labs_cosec@linkgroup.co.uk

 Panmure Liberum Limited - Corporate Broker and Financial Adviser     +44 20 3100 2000
 Alex Collins / Tom Scrivens

 G10 Capital Limited - AIFM                                           +44 20 7397 5450
 Maria Baldwin

 FTI Consulting - Financial PR                                        +44 20 3727 1000
 Dido Laurimore / Richard Gotla / Oliver Parsons
 LifeScienceReit@fticonsulting.com

 

Notes to editors

Life Science REIT plc is a specialist property business focused on the UK's
growing life science sector. The Company's portfolio of assets is located
across the "Golden Triangle" of research and development hubs in Oxford,
Cambridge and London's Knowledge Quarter and its strategic vision is to become
the property provider of choice for life science companies in the UK.

Life Science REIT is addressing the acute demand-supply imbalance for
laboratory space in the "Golden Triangle", which is characterised by low
vacancy rates and prime rental increases. The UK life science sector itself is
underpinned by strong structural drivers, including an ageing population and a
supportive regulatory environment as well as the growing interdependence with
technology, which is expanding the life science spectrum, driving strong
demand for laboratory space.

The Company's diverse portfolio of assets ranges from a 20-acre science park
currently under development through to fully let buildings, with an important
part of the Company's strategy being the conversion of existing properties to
laboratory space.

The Company's investment policy is focused on capital growth whilst also
providing a growing level of income.

Life Science REIT trades on the Main Market of the London Stock Exchange under
the ticker LABS.

Further information is available at https://lifesciencereit.co.uk
(https://lifesciencereit.co.uk/) . To sign up for email alerts, please visit
https://lifesciencereit.co.uk/investors/
(https://lifesciencereit.co.uk/investors/) .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCQQLFLEQLFBBX