Requirement for lab space in Cambridge currently stands in excess of 1 million sq ft, considerably outweighing the amount of space that is likely to be delivered or indeed become available in the near future. This huge imbalance in supply and demand means that potential occupiers are coming forward at a relatively early stage to try and secure space rather than risk missing out on space under development. A significant amount of space is already under offer at the next phase of Unity Campus, Building 960 at Babraham and 1000 Discovery Drive on the BioMedical Campus despite none of this space being available until the end of 2023 at the earliest. A consequence of the huge differential between supply and demand is strong rental growth. The highest recorded rent is £48.50 sq ft at the Portway Building at Granta Park although some recent deals are reported to be progressing at figures up to £65 per sq ft. To read our full report on the Laboratory market in our annual Datapoint roundup, please click here.