Lord Hague of Richmond officially opens Oxford North

Oxford North, the state-of-the-art, flagship new global innovation district in a prime City of Oxford location, which has consent for c. 1 million sq ft (92,903 sqm) of newly developed, flexible lab and office accommodation, was officially opened by Lord Hague of Richmond, Chancellor of the University of Oxford on 30th September.

With a £1.2 billion gross development value, the district is being delivered by Oxford North Ventures, a joint venture (JV) 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. Underscoring the JV’s commitment to the UK science and technology sectors, it provides a blueprint for how state-of-the-art innovation assets, conceptualised and designed based on global insights and in proximity to world-leading academic institutions, can enable the next century of life-changing discoveries.

Oxford North 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. The development is well-positioned to capture the growing demand from a broad spectrum of companies, led by those in the AI, quantum computing, biotech and foodtech sectors, to help support the growth of the UK’s life science, technology and innovation industries.

The recently completed 158,500 sq ft (14,725 sqm) Phase 1A comprises: two purpose-built laboratory buildings offering 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; as well as The Red Hall, totalling 33,000 sq ft of workspace over four floors.

The scheme has been brought to life by Fletcher Priest Architects, one of the largest architecture and design practices in the UK. Sitting at the intersection of academia, commerce and experience, Oxford North features carefully curated public realm, positioning it as Oxford’s only ‘seven-day-a week’ science and technology-led community.

25,000 sqm of amenity space will include an 80-seat café, 100-seat townhall and touch-down co-working space, a central 2,000 sqm square, as well as Fallaize Park, a two-acre public park featuring Your planetary assembly, the first permanent public work in the UK by world-renowned Icelandic-Danish artist Olafur Eliasson. Consisting of eight glass polyhedrons inspired by models of the solar system, it is reminiscent of the orreries at the University of Oxford’s History of Science Museum.

Sustainability is embedded into the scheme’s design, to ensure the delivery of positive local environmental and social benefits, with an ambition to push beyond conventional practice to deliver a ‘net positive’ development. Since August 2021, more than 2,000 construction personnel have been working on the site, including over 50 apprentices, and the district is forecast to boost the economy by £150 million per year in GVA.

Oxford North is ideally located just a 15-minute cycle from the city centre, whilst its proximity to Oxford Parkway Station, which is strategically positioned on the East West Rail corridor, coupled with its arterial advantages, will provide occupiers, visitors and residents with unrivalled multimodal connectivity. With 343,000 people who can commute to Oxford within 30-minutes travel time, and 1.8 million people of working age living within a 60-minute drive, it boasts enviable access to the region’s strong talent pool.

Oxford is a world-renowned centre for research excellence and home to the highest concentration of science research facilities in Western Europe. Oxford North is situated in close proximity to multiple world-class research and scientific institution. This includes the University of Oxford, which has produced the most unicorn founders in Europe and accounts for 30% (£5.7 billion) of all the capital raised by university spin-outs, the highest share of any UK university.

Lord Hague of Richmond, Chancellor, University of Oxford, said: “We’re here to celebrate this iconic addition to the region’s innovation landscape. Oxford is a unique hub with an exceptional 900-year history, and is synonymous with life-changing scientific and technological breakthroughs. The continued investment into next generation infrastructure and inclusive opportunities such as Oxford North means this an exciting time to be part of this city.”

Jenny Hammarlund, Senior Managing Director, Real Estate, EMEA at Ontario Teacher’s Pension Plan, said: “We are delighted to have launched Oxford North and to be bringing a new innovation district to Oxford and the life sciences and technology community, which will help meet growing demand to aid research, commercialise innovations and attract top talent to the sector. Oxford North has all the components to be one of the UK’s leading incubators for the discoveries that will shape the rest of this century. Alongside our partners, we look forward to leveraging our deep track record supporting the full business ecosystem, from early-stage innovation hubs to scale-up opportunities, to ensure its success.”

Professor Lady Sue Black, Baroness Black of Strome President of St John’s College, said: “Today is a significant milestone for Oxford on the world stage, celebrating St John’s joint investment to create a place to connect local academia, research and the most innovative start-ups and companies in our ecosystem. This will help to retain the exceptional talent in the city and to create opportunities for inclusive growth. There is a unique opportunity for Oxford North occupiers to engage with academia and business as part of Oxford’s thriving innovation ecosystem and vibrant spin-out culture.

“Most importantly, this is a new place for everyone, reflecting the original vision of Oxford City Council to create a new district for Oxford, knitted into the city and fully connected to its surroundings. This vision is coming to life through Engage, our art, culture, social value and legacy programme, to integrate into the community and inspire pupils and students to become future scientists, innovators and technologists.”

David Camp, CEO of Stanhope, added: “We are creating one of the UK’s most exciting, dynamic and vibrant mixed-use communities that enables businesses of all shapes and sizes to flourish side by side. With an improving funding outlook – VC investment into UK life science companies is expected to exceed £3.7 billion this year, the highest amount since 2021 – Oxford North is being delivered at the opportune time, and will address the unsatisfied demand for laboratory space in the UK from both domestic and international businesses.

“Crucially, it also benefits from the unique consortium behind its delivery, which combines long-term, stable capital, significant science and technology expertise, market-leading development management capabilities and deep local stakeholder knowledge and investment. This single ownership structure improves long-term investment and ensures that the quality of accommodation, public realm and amenities is maintained.”