Royal London Asset Management Property has expanded its footprint at Abingdon Business Park, Oxfordshire, in the UK, with the acquisition of the 77,000 ft2 Eyston Way industrial scheme and securing planning permission for a 24,000 ft2 of mid-tech unit space.
It has also completed the refurbishment of a 54,000 ft2 building and signed an agreement with Oxford Nanopore Technologies, a company that develops and sells DNA sequencing technology.
Located on a 50-acre site adjacent to the A34 and just outside of Abingdon town centre, the park holds 550,000 ft2 of industrial and innovation real estate comprising a mix of R&D, life sciences, tech, engineering and manufacturing tenants.
The expansion aligns with Royal London Asset Management Property’s strategy to invest in multi-let commercial estates in locations with strong growth potential, the company said in a statement.
Royal London Asset Management Property has also received planning permission to redevelop a two-acre car park into 24,000 ft2 of innovative mid-tech space. The project is estimated to be completed by Q3 2025.
The company manages over 17 million ft2 of industrial and logistics across the UK. Earlier this year, the company finalised a round of transactions in the industrial and logistics sector worth more than £350 mln.
James Orr, head of Industrial and Logistics at Royal London Asset Management Property, said: 'Royal London Asset Management Property's expansion in Abingdon Business Park reinforces our commitment to fostering innovation and growth. The refurbishment of a 54,000 ft2 building and the pre-let agreement with Oxford Nanopore Technologies, a leader in DNA sequencing technology, demonstrate our expertise in attracting and accommodating cutting-edge companies.'
