Real Estate Demand Study

Award outcome

Description

The West Yorkshire Combined Authority (WYCA) wishes to procure property market expert advice from real estate and development professionals (RICS registered) that explores opportunities for developing real estate and provide evidence on how this will service a gap in the national and international marketplace. The study should focus primarily on the Life Sciences sector, with Digital Tech as a secondary focus (as a key enabler of the Healthtech sector). The study should be conducted with reference to well-evidenced regional strengths in the Healthtech/Life Sciences and Digital Technology sectors, including the talent pipeline and ecosystem in the region, and assess the basis for developing specific Life Sciences real estate, in particular, to fuel growth in the sector. The study will also identify a longer-term pipeline of Life Sciences companies outside the region and the UK who have the potential to capitalise on real estate opportunities at strategically relevant time points e.g. lease expiry, outgrowing existing space. We are keen to understand opportunities to support scaling companies, including in Life Sciences manufacturing as well as research and development. The report should also recommend measures to strengthen regional engagement with relevant developers over the medium to long term. The report should also assess current environments to foster Healthtech and Digital Tech start-ups and scale ups, the extent to which the current office real estate market provides suitable accommodation to foster Digital Tech growth across the region, including specific infrastructure requirements, and opportunities to further develop given West Yorkshire digital sector strengths.

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