Life Science REIT has completed a new lease with quantum technology business Infleqtion (ColdQuanta UK Limited) for 7,500 sq ft at the Innovation Quarter (IQ) of its Oxford Technology Park (OTP).

It follows an Agreement for Lease which was announced in March and became effective on completion of the fit out.

The deal, which is the third letting at the IQ and the first of fully fitted space at OTP, achieved a record rent for the park. The IQ provides small, flexible space, aimed at emerging life science occupiers.

Ian Harris, director of asset management at Ironstone Asset Management, Life Science REIT’s investment advisor, said: “Infleqtion is a great addition to OTP where we are successfully building a cluster of AI, quantum computing and technology businesses.

“This letting demonstrates the appeal of the fully fitted concept and positions us for a roll out elsewhere at the IQ, extending the depth of the offering at OTP, which can now cater to a range of demand from start-ups and scale-ups, to well established, global science and technology businesses.”

OTP consists of six completed buildings totalling 237,900 sq ft alongside 270,100 sq ft of development space. The IQ consists of 69,700 sq ft and across 11 units.

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