Magdalen College & GIC enter Strategic Partnership to accelerate development of The Oxford Science Park
Investment initiates transformational construction programme as demand for life sciences & technology space continues
Oxford, UK, October 5 2021 – Magdalen College Oxford, owner of The Oxford Science Park (TOSP), one of the UK’s leading parks for science and technology companies, and an affiliate of GIC 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 for an undisclosed figure. Establishment of the partnership has accelerated a major multi-building development plan at TOSP 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 TOSP’s 23 gross 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. Further details of the development masterplan will be released in due course.
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 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.
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.’
Magdalen College was advised by Cushman & Wakefield and Bryan Cave Leighton Paisner.
For more information, please contact:
The Oxford Science Park
Emma Palmer Foster
Tel: +44 (0)7880 787185
Notes to Editors
About The Oxford Science Park
The Oxford Science Park is majority owned and managed by Magdalen College, Oxford. Created in 1991, the Park upholds the College’s heritage and provides one of the most influential science & technology environments in the UK. There is high quality workspace accommodation across the Park, which is now home to 2,700 people and more than 130 businesses. These range from start-ups based in the Magdalen Centre innovation hub to major international companies, including Blue Earth Diagnostics, MiroBio, OrganOx, OxSonics Therapeutics, Oxford Nanopore Technologies, OXGENE, ProImmune, Evox Therapeutics, Vaccitech, Exscientia, Sensyne Health and Intuitive Surgical.
In addition to being a key property investment, the Park is at the heart of Magdalen College’s strategy to support discovery, innovation and entrepreneurship. The Oxford Science Park will continue to be developed as a long-term strategic asset. Additional capacity will support the growth of businesses already based on the Park, providing flexible workspace accommodation, and enabling new companies to enjoy the Park’s exceptional environment and collegiate and collaborative ethos. The Oxford Science Park is located approximately four miles south-east of Oxford city centre, just off the City’s southern ring road. It has easy access to the M40 and A34, as well as to Heathrow Airport and mainline train services. For further information, please visit: www.oxfordsp.com or follow us on twitter @OxfordSciencePK
GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, we take a long-term, disciplined approach to investing, and are uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Our long-term approach, multi-asset capabilities, and global connectivity enable us to be an investor of choice. We seek to add meaningful value to our investments. Headquartered in Singapore, we have a global talent force of over 1,800 people in 10 key financial cities and have investments in over 40 countries. For more information on GIC, please visit www.gic.com.sg or LinkedIn.