University College London
and growing the Life Sciences Sector on Euston Road, London
and growing the Life Sciences Sector on Euston Road, London
University College London knew that it was very well placed to capitalise on the establishment of the Francis Crick Institute in its Euston Road/Kings Cross district of London. Its University Hospital and much of its extensive academic research activity were already based here. However, it wanted to know more about the nature of healthcare related demand for commercial R&D activity so that it could best advance opportunities for industry collaboration and spin-out activity in the sector.
Creative Places undertook a ‘sub-study’ to its pan-London demand study work for MedCity, building on the relationships being developed with business through that work to explore at more specific level the views of businesses in relation to Euston Road/King’s Cross. Against potentially very high property prices we explored specific drivers and issues that businesses would face in trying to operate in this area and gave pragmatic advice to UCL. Our MedCity Study also included, as a key recommendation, that steps should be taken to ensure that the Life Sciences sector should be given opportunity to take accommodation on land immediately adjoining the Francis Crick Institute.
UCL’s Vice-Provost (Enterprise and London) has been able to progress plans that can best evolve the University’s engagement with industry in the Life Sciences sector in this area of London. The Mayor’s Office has written to owners of land alongside the Francis Crick Institute to confirm the importance of attending to Life Sciences demand for commercial real estate in bringing forward development plans and plans are now being progressed that can help attend to this.
