Syncona Investment Management Ltd Signs at Victoria House as Oxford Properties and Pioneer Group Deepen London Life Sciences Ecosystem

Syncona Investment Management Ltd has signed a lease at Victoria House in London's Bloomsbury district, joining the life sciences community co-developed by Oxford Properties Group and Pioneer Group at the Grade II-listed Art Deco building at 37–63 Southampton Row.

The firm, which serves as investment manager for Syncona Limited — a FTSE 250 life sciences investor with more than £1 billion in net assets — will relocate its team to the building and bring with it Slingshot Therapeutics, its early-stage accelerator focused on identifying and advancing life science programmes sourced from academic institutions toward clinical development.

A Capital and Venture Node in Central London's Largest Office-to-Lab Conversion

Victoria House spans approximately 300,000 square feet and is being repositioned as Central London's largest office-to-lab conversion. The building offers roughly 220,000 square feet of Grade A wet lab-enabled life sciences space alongside approximately 80,000 square feet of office, amenity, meeting and retail space. Laboratory specifications include up to a 65:35 lab-to-workspace ratio, fume hood capacity of one per 4,500 square feet, a minimum of six air changes per hour, and piped gases to each floor. The building is targeting EPC A and BREEAM Excellent ratings as part of an all-electric, low-carbon plant upgrade.

The building sits within London's Knowledge Quarter, in close proximity to University College London, Great Ormond Street Hospital and the Francis Crick Institute — a location that aligns with Syncona Investment Management Ltd's model of sourcing early-stage science from world-leading academic institutions. As of mid-2025, Victoria House was approximately 40% occupied, reflecting early leasing momentum despite elevated vacancy across the broader London laboratory market.

Syncona Investment Management Ltd manages a £866.7 million life sciences portfolio spanning 15 companies diversified across development stage, modality and therapeutic area. The firm said the move reflects its long-term commitment to supporting breakthrough science in the United Kingdom as it works to raise a new private fund to create, build and scale globally competitive companies.

Slingshot Therapeutics Joins Building's Accelerator Cluster

Slingshot Therapeutics, Syncona's accelerator, will co-locate at Victoria House alongside other accelerator platforms already in residence. The accelerator is focused on accumulating a pipeline of early-stage life science programmes identified from academic institutions and advancing them toward the clinic.

Fiona Fernandez, Head of Operations at SIML, said the building's collaborative spaces and events programme would provide valuable exposure to investors, founders and innovators. "We are also pleased to bring Slingshot, our early-stage accelerator, to Victoria House putting us among early-stage companies and founders, with laboratory space readily accessible in central London, a natural fit for backing science at this stage," Fernandez said. "We see real potential for the building's ecosystem to complement our portfolio over time and the team are excited for our next stage."

Tenant Roster Expands Across Clinical, Deep-Tech and Accelerator Categories

Syncona Investment Management Ltd joins a roster of occupiers that Oxford Properties Group and Pioneer Group have assembled at Victoria House across multiple life sciences categories. Clinical-stage biotechnology firms at the building include Draig Therapeutics, focused on neuropsychiatric treatments, and AAVantgarde Bio, which specializes in retinal gene therapies. Deep-tech and platform companies include BioOrbit, a space manufacturing startup; AmpliSynth, an automated DNA synthesis startup; and Deep Mirror, an AI drug-design firm. Accelerator platforms in residence include Molecule to Medicine and BioInnovation Institute, which selected Victoria House as its first UK and international hub.

Miranda Knaggs, Corporate Development Director at Pioneer, said the arrival of Syncona Investment Management Ltd represents a significant moment for the building's community. "SIML's unique model of building companies from the ground up perfectly complements our ecosystem," Knaggs said. "By positioning its team and the Slingshot Accelerator within touching distance of London's medical and academic powerhouses, we are creating a frictionless environment where innovators can seamlessly access the long-term capital required to scale breakthrough science from bench to bedside."

Jay Drexler, Oxford Properties' Head of Asset Management, Office, Retail & Life Science Europe, said the lease adds a venture capital fund manager that broadens funding access for the building's occupiers. "Adding SIML to our tenant roster builds on the outstanding growth and success Victoria House has already seen this year so far and further reinforces its central role in supporting the growth and continued development of London's life science ecosystem," Drexler said.

Victoria House Conversion Advances as London Life Sciences Demand Remains Selective

The Victoria House conversion is being delivered in phases. The first phase comprised approximately 190,000 square feet of lab-enabled space, including a fully fitted incubator and grow-on labs. The building's specification includes eight passenger lifts and three goods lifts, a central backup generator and air-source heat pumps. Wates and SES Engineering Services were appointed to deliver the conversion, incorporating off-site prefabricated M&E modules and heat recovery systems designed to reduce operational and embodied carbon.

The building's available units range from approximately 2,350 square feet to 265,340 square feet, with more than 19,000 square feet of amenity space including a members' club, roof terrace and heritage meeting rooms. Oxford Properties Group and Pioneer Group have positioned the building's proximity to academic and hospital anchors as a key differentiator in a London laboratory market where tenant demand has become increasingly selective.

The Syncona Investment Management Ltd lease adds a capital-deployment function to the building's existing mix of founders, scientists and scale-ups, strengthening what Oxford Properties Group and Pioneer Group have described as a funding-plus-facilities proposition at the Bloomsbury site.

Sources

Oxford Properties Group — Oxford and Pioneer secure leading life sciences investment firm Syncona Investment Management Ltd at Victoria House