Oxford, UK: March 14, 2022: Oxford Science Enterprises, the Science Business Builder and preferred investment partner of the University of Oxford, announces it has entered into a joint venture with the Lothbury Property Trust (“Lothbury”) to develop high-specification laboratory and office space, for early-stage life science businesses, in the heart of Oxford city centre.
The 30,000 sq ft R&D space is part of a proposed comprehensive £200 million redevelopment of the Clarendon Centre. Led by Lothbury, the redevelopment is expected to begin in 2022, pending the requisite approvals. On completion, expected during 2024, the R&D space will provide an ideal environment for fast-growing life science companies, including those founded by Oxford Science Enterprises. In addition to R&D facilities, plans for the overall 250,000 sq ft site include creating space for student accommodation, offices, retail outlets and restaurants.
In Oxford, demand for laboratory space is approximately ten times greater than existing supply. With more than 100 companies in its portfolio, Oxford Science Enterprises has an ever-increasing requirement for specialist laboratory and office space. The redevelopment of the Clarendon Centre will significantly increase Oxford Science Enterprises’ existing 55,000 sq ft footprint in and around Oxford and enhance its ability to provide its companies with the essential facilities needed to grow and thrive.
This new venture with Lothbury supports our strategy to be a comprehensive science business builder ... (and) essential R&D space to nurture our companies’ growth in the early stages of development
Alexis Dormandy, CEO Oxford Science Enterprises, said:
“There is an acute shortage of laboratory and office space that meets the specific requirements of early-stage life science companies in Oxford. This new venture with Lothbury supports our strategy to be a comprehensive science business builder, not only providing investment backed by strategic and operational expertise, but also essential R&D space to nurture our companies’ growth in the early stages of development.
“We believe that the city centre location will prove attractive to new companies and allow fledgling biotechs access to state-of-the-art facilities while remaining close to the University, its entrepreneurs and academics. This is an exciting evolution of the space and city centre, bringing new life and opportunities to the high street and local businesses.”
This is a milestone investment for Lothbury, which has owned the Clarendon Centre since its inception in 1985 and brings Lothbury’s investors into the new and exciting life science and biomedical sectors for real estate
Simon Radford, CEO Lothbury Investment Management Limited added:
“This is a milestone investment for Lothbury, which has owned the Clarendon Centre since its inception in 1985 and brings Lothbury’s investors into the new and exciting life science and biomedical sectors for real estate. The joint venture with Oxford Science Enterprises is the first letting within a comprehensive redevelopment project, which is planned to be implemented on a phased basis. The proposed development will comprise four highly sustainable buildings, bringing office, lab and student accommodation into the heart of Oxford city centre.”
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Notes to Editors
About Oxford Science Enterprises
Oxford Science Enterprises (OSE) is an independent, billion-pound investment company, created in 2015 to found, fund and build transformational businesses via its unique partnership with the University of Oxford, the world’s #1 research university.
This partnership enables OSE to work with the brightest academic minds tackling the world’s toughest challenges and guarantees unrivalled access to their scientific research. In collaboration with its global network of entrepreneurs and advisers, OSE shapes and nurtures complex ideas into successful businesses, while targeting attractive returns for shareholders.
Actively focused on a core portfolio of around 40 companies spanning three high-growth, high-impact sectors – Life Sciences, Health Tech, and Deep Tech – the company adopts a flexible, long-term investment approach, recognising the path from ground-breaking research to global markets takes time and resilience.
To date, OSE has invested £0.5 billion in over 80 ambitious companies built on Oxford science.
A key player in Oxford’s entrepreneurial ecosystem, OSE is highly motivated to foster an environment that catalyses pioneering research and steers it to commercial success.
About Lothbury Investment Management Limited
Lothbury Investment Management Limited (LIM) is a UK real estate investment manager with £2 billion assets under management, as at Q4 2021. Lothbury Property Trust (LPT) is the flagship fund for LIM, providing investors with access to the UK property market. Lothbury Property Trust holds £1.64 billion assets under management and is a balanced property unit trust providing exposure to the UK office, retail, industrial, student accommodation and hotel sectors and is geographically spread across the UK.
The Fund delivers an innovative investment solution through a core/active strategy that comprises a predominantly core portfolio of prime assets to achieve stability of return, combined with active management initiatives to create additional value and an enhanced return for the investor. More information on LIM and LPT can be found at www.lothburyim.com
Lothbury Investment Management Limited is authorised & regulated by The Financial Conduct Authority.