The Crown Estate, the manager of the British monarch’s UK property portfolio, has acquired a 221-acre site in Oxfordshire for a planned £4.5bn (€5.2bn) science, innovation and technology campus project.
The Crown Estate said it has acquired Harwell East, the site next to the Harwell Science and Innovation Campus in Oxfordshire, to establish a major new hub.
The development, once approved, could feature up to 4.5m sqft of office, laboratory and advanced manufacturing space, alongside up to 400 homes. The Crown Estate said the acquisition forms part of its commitment to invest up to £1.5bn in the sector over the next 15 years.
Dan Labbad, CEO at The Crown Estate, said: “The ambition of Harwell East is to create the space for great science to flourish, and to fuel growth and success not just in the region but for the benefit of the whole country. This acquisition marks the latest step on our journey to support the UK’s fast-growing sectors.
“At a time when delivering world-class science, innovation and technology space is so important to the future prosperity of the country, our role to act in the long-term national interest makes us perfectly placed to unlock the potential of Harwell East and ensure that the UK stays at the forefront of global innovation.”
Crucible is working with The Crown Estate to secure planning permission for Harwell East.
Angus Horner, founder at Crucible, said: “This is an exciting commitment by The Crown Estate, doubling down on the multi-generational success and world leading science and innovation at Harwell.
“This type of project is crucial now, if we are to fully leverage our skills and capabilities to supercharge UK plc and deliver improved social, health and economic wellbeing.”
Science minister and Oxford-Cambridge innovation champion Lord Vallance, said: “Opening up Harwell East could help the brilliant businesses and innovators based here to expand and tackle the great challenges of our era, with access to the labs, facilities, and homes they need to do their work.
“The vast economic potential of this site underlines precisely why we are determined to fully unlock the Oxford-Cambridge Growth Corridor, as an engine for nationwide growth.”
Ed Bussey, CEO at Oxford Science Enterprises, said: “Oxford Science Enterprises is also proud to be working with The Crown Estate and Pioneer Group on the redevelopment of the former Debenhams building in Oxford city centre, creating expansion potential over and above the ambition for Harwell East.
“Together, these initiatives will ensure Oxford continues to nurture world-class research and enterprise, and that the UK remains a global leader in science and innovation.”
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