A surge in deals activity has seen a Midlands law firm complete more than 100 property deals at science parks in the UK in the last nine months.
Since October 2014, when they expanded the dedicated team, Leamington Spa-based Wright Hassall has completed 113 lease transactions, compared with 81 in the same period in 2013/2014.
Wright Hassall’s Science Park team is led by law partner Barry Sankey, who has more than 30 years’ of experience working with science parks, and paralegal Keri Harwood.
Sankey said increased confidence in the market had led to a surge in deals activity.
“The science park sector is a dynamic source of economic growth, and confidence in the technology and innovation-led businesses has undoubtedly risen significantly in the last 18 months,” he said.
“We are now looking at around 150 lettings in the full 2015 year, and that’s well over 50 per cent up on the annual rate of about 90 lettings a year we have seen between 2009 and 2013.
“We’ve seen growing demand for new and additional space from businesses and start-ups operating in a wide range of sectors, which is extremely positive as the activity is leading to increased wealth and new jobs, and had a knock-on effect on supply chains.
“Despite the positive increase in business, the nature of the market requires us to challenge our own assumptions, and constantly evolve and extend our support.
“In addition to recruiting Keri, we have this year designed a new web portal system for our clients to support the volume of lettings. We are also setting challenges to our own internal IT team as we look to enhance our systems further still.”