MedCity was set up by the Mayor of London and the London Development Agency to oversee the promotion of the health sciences sector in London and the Greater South East. In 2015 they wanted to assess the supply of and demand for real estate focussed on the sector within the capitol in order to ensure real estate delivery will be effected to support growth of commercial R&D alongside the investments being made in research capability.
We devised a primary research exercise that saw us contact over 80 relevant businesses to ascertain their requirements in terms of location, real estate and amenities. We also assessed the drivers that would influence demand in the next few years and the delivery of further floorspace to the sector. We undertook research and study visits to Boston, New York, Paris and Berlin to compare the supply and demand dynamics in those locations with London. We were able to make clear recommendations on how resources should be deployed into the future so as to grow the sector in London.
Through the detailed research we undertook, MedCity were able to obtain hard data on demand and supply and identify what was missing in terms of real estate delivery across London. It has enabled them to lobby for additional provision in key locations which should serve to support the growth of the sector and delivery of impact from the world leading academic and clinical research being undertaken across London.