First letting secured at £1.2 billion Oxford North global innovation district

Oxford North Ventures, the joint venture delivering Oxford North has secured international law firm Mishcon de Reya’s Thames Valley Team as the first tenant. It follows the September launch of the district’s first phase, which totals 158,500 sq ft of precision-constructed space across two purpose-built laboratory buildings and The Red Hall.

Mishcon de Reya has agreed a 5-year lease, for 3,500 sq ft of office space on the first floor of The Red Hall. The iconic building, which totals 33,000 sq ft of workspace over four floors alongside an 80-seat café and 100-seat townhall, is adjacent to the timber cycle pavilion and overlooks Fallaize Park and Fallaize Square.

Remaining units within The Red Hall are available from 3,000 sq ft. The district’s first phase space also comprises two purpose-built laboratory buildings comprising units from 2,000 sq ft up to 56,000 sq ft, including 13,500 sq ft that is being fitted out and will be available in December.

Mishcon de Reya has a long track record providing both contentious and non-contentious advice across the UK innovation economy. The team relocating to Oxford North operates across multiple sectors including life sciences and healthcare, space and defence, AI and blockchain, deep tech and quantum, and energy and climate.

The firm provides advice and support on every aspect of law for businesses, charities and individuals with notable clients including Oxford Colleges, Lola Cars, Future Planet Capital, Mindfoundry and Nucleome Therapeutics. Across 2024, Mishcon de Reya's clients completed 181 fundraising transactions with the firm, totalling £1.2 billion in capital raised. 80% of these fundraising clients were based across the academic institutions of Oxford, Cambridge and London. The firm believes that moving into Oxford's flagship innovation district will allow it to support more of these innovators answering tomorrow's biggest questions.

Kevin Darvishi, Head of Leasing, Stanhope, commented: "Securing a blue-chip occupier at Oxford North is a strong endorsement of our vision to create the UK’s leading purpose built regional innovation campus, which caters to the whole science and technology lifecycle ecosystem. We look forward to welcoming the Mishcon de Reya team, which is firmly embedded in the region’s life science scene, and the collaborative opportunities this will foster.

“Sitting at the intersection of academia, commerce and experience, and benefitting from unrivalled multimodal connectivity, we are seeing strong interest from a range of local, national and international occupiers for the remaining phase one space.”

Nicola McConville, Partner, Mishcon de Reya, added: “We’re delighted to be the first tenant at Oxford North’s innovative new district. The Red Hall offers the ideal environment for us to collaborate, grow and support our clients in navigating the opportunities and challenges of the evolving innovation landscape. This move reflects our commitment to the UK’s innovation economy, and together with our offices in London and Cambridge, we are well positioned within the Golden Triangle of innovation excellence.

“We look forward to contributing to the vibrant community at Oxford North as it grows over the coming months.”

Oxford North is being delivered by Oxford North Ventures, a joint venture between Thomas White Oxford, the development company of St John’s College; Ontario Teachers’ Pension Plan, a leading global investor; and development and asset manager Stanhope. With consent for up to 1 million sq ft of brand new, flexible lab and office accommodation, it will cater to the whole science, technology and AI ecosystem, from start-ups and spin outs through to global giants, offering the full lifecycle of space, from fitted labs and turnkey solutions through to grow-on space and bespoke buildings.

Savills acted on behalf of Oxford North Ventures.