Life Science REIT announced that it has fully let Building 5 at Oxford Technology Park ("OTP"), covering 57,000 sq. ft. to WAE Technologies Limited ("WAE Technologies").

OTP is strategically located to provide excellent access to the academic and research institutions in and around Oxford University including the neighbouring Begbroke Science Park. Its Hybrid Buildings are highly flexible, and can provide any configuration of offices, labs, R&D and production space, to suit the evolving needs of businesses in this sector. Building 5 reached practical completion this week and is on track to achieve a BREEAM Excellent certification.

WAE Technologies will pay an annual rent of £1,146,000, equating to £20.10 psf for a ten-year term, with a break clause at year five on half the space and a rent review at the end of the fifth year. The space has been fitted out as offices and R&D space by the occupier.