March 2025 Life Sciences Update

Life Sciences Compared

09

CONTENTS

Rental Growth (Western Europe, Yr to Q3 24, % pa)

Investment Volumes (Change, all Europe, Yr to Q4 24)

Yield Change (Western Europe, year to Q4 24, bp)

• Lab-enabled life sciences offices posted significant rental growth in the past year, along with stabilization in yields. • The best-performing markets in terms of investment volumes have been hotels, logistics and PBSA, along with niche operational sectors such as self-storage and data centers. occupiers and investors has stabilized, the market is still constrained by a shortage of modern, sustainable property in most major European clusters. This scarcity has led to sustained rental growth for the best space, but it also creates barriers to activity. activity picks up in response to increased public sector, investor and VC activity over recent years. An increase in space delivery is expected in the next 1-2 years, particularly in the UK and the Netherlands. This will provide life sciences businesses with a greater choice of high-quality space options, which will accelerate activity and the maturing of the sector in Europe. • For life sciences, while demand from • That is set to change as development

7

9.5%

XXX

5

3

2

67%

0

-1

-3

5.3%

25%

3.4%

24%

30%

4.0%

2.1%

3.2%

21%

19%

2.3%

1.9%

10%

-19

GLA sqm

-1%

-5%

Source: Cushman & Wakefield, RCA

51 51

Cushman & Wakefield