Investment initiates transformational construction programme as demand for life sciences & technology space continues
Magdalen College Oxford, owner of The Oxford Science Park and an affiliate of GIC, Singapore’s sovereign wealth fund, have entered into a Strategic Partnership to accelerate the development of The Oxford Science Park. GIC, a global long-term investor, is taking a 40% stake in the Park. Establishment of the partnership has accelerated a major multi-building development plan at the park to accommodate strong demand and future growth requirements of a range of world-leading science and technology companies.
Several state-of-the-art facilities are planned for The Oxford Science Park’s 23 acres of development land, with the capacity to add at least a further 500,000 sq ft. With construction of the first of these on Plot 16 expected to start before the end of the year, the Park is already experiencing strong interest in subsequent buildings.
Rory Maw, Chief Executive of The Oxford Science Park and Bursar at Magdalen College Oxford, said: ‘We are delighted to welcome GIC as a partner in The Oxford Science Park, and look forward to working together to enhance the Park’s position as the science park of choice for leading science and technology companies. As a long-term investor with a strategic outlook, GIC’s objectives are aligned with ours, those of our occupiers and of Magdalen College. As well as being an enormous demonstration of confidence in the UK – and Oxford in particular – as a leading location for international life science and technology, this is a transformational investment for The Oxford Science Park. It enables us to meet unprecedented demand for high-quality laboratory and office space and to support the ambitious growth of new and existing occupiers from the UK and abroad.’