Magdalen College to sell 40% of Oxford Science Park

The landlord has appointed real estate services firm Cushman & Wakefield to lead the process, which involves a 40% equity share in the park, including the existing estate as well as a development pipeline of at least a further 430,000 sq ft.
 
Opened in 1991 to provide high-quality space for spin-outs and start-ups such as those emerging from the University of Oxford, TOSP houses state-of-the-art office and laboratory space across 62 acres of landscaped grounds. At present, TOSP has approximately 250,000 sq ft of existing leased and managed buildings. Its 14.75 acres of development land has capacity to add a further 430,000 sq ft to support the growth of existing occupiers and enable new companies to join the campus. Once fully developed, the Park is expected to have a value approaching £1 bn (€1.1 bn).
 
The science park was originally established in 1991 as a joint venture with M&G Real Estate, with Magdalen College acquiring its 50% stake in 2016 to take sole ownership.
 
Rory Maw, Bursar at Magdalen College Oxford and director of The Oxford Science Park, said: ‘We believe a strategic partnership provides the most attractive mechanism to raise capital to accelerate the timetable for developing additional capacity to meet unprecedented demand and to further the discovery, innovation and entrepreneurship taking place at The Oxford Science Park. Magdalen College has a tradition of academic excellence and entrepreneurship. The Park upholds the College’s heritage – many of its buildings and roads are named after our famous scientific alumni – and this next step in The Oxford Science Park’s evolution develops this tradition further.’
 
David Haynes, head of UK Specialist Markets at Cushman & Wakefield, said: ‘The Oxford Science Park represents a once in a generation opportunity to invest in one of Europe’s leading science parks with a vibrant ecosystem of globally-recognised life science tenants.’
 
Andrew Hawkins, international partner, Capital Markets at Cushman & Wakefield, said: ‘There is an enormous weight of global capital targeting the life sciences sector with demand for lab space in the UK growing significantly in recent years as a result of rapid investment by international capital into life science occupiers.’