Singapore sovereign wealth fund GIC is investing in a UK science and technology park owned by Magdalen College Oxford.
Magdalen College Oxford said GIC is investing an undisclosed amount to buy a 40% stake in The Oxford Science Park (TOSP) to help progress the development plan at the park.
Magdalen College paid £18.1m (€21m) to M&G Real Estate in January 2016 to buy a 50% stake in TOSP in order to take full control of the park.
In May this year, Magdalen College appointed Cushman & Wakefield to seek a partner to accelerate the development of TOSP.
Opened in 1991 to provide space for spin-outs and start-ups, the science park is home to more than 100 companies. At present, TOSP has approximately 250,000sqft of existing leased and managed buildings.
Magdalen College said several facilities are planned for TOSP’s 23 gross acres of development land, with the capacity to add at least a further 500,000sqft.
Rory Maw, CEO 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 TOSP’s position as the science park of choice for leading science and technology companies.
“As a long-term investor with a strategic outlook, its objectives are aligned with ours, those of our occupiers and of Magdalen College.”
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