The new asset manager of The Quadrant at Abingdon Science Park, Addington Capital LLP, has committed to a significant investment programme into the Park to provide accommodation suitable for R&D and laboratory occupiers in response to the dearth of current availability.
The scheme was originally developed for the Life Sciences sector and totals approximately 75,000 sq ft, consisting of four separate blocks with a range of self-contained flexible units from circa 1,500 sq ft upwards, with good parking allocation and an attractive landscaped environment.
Addington Capital’s investment programme will focus on updating the accommodation to suit modern practices to include space ready for lab fit out, together with enhancing the overall Park environment, rather than having to undertake a comprehensive redevelopment process. It has appointed Carter Jonas to advise.
Philip Symonds from Addington Capital said: “We plan to invest heavily in The Quadrant to take advantage of the latent demand from R&D and lab occupiers in the local market. Following a period of relative passive management, our investment plans to attract new occupiers will also benefit the existing occupiers who we will continue to actively support. We are very much looking forward to working with local market leaders Carter Jonas on the asset.”
Jon Silversides, partner, commercial, Carter Jonas’ Oxford office, who is the lead partner, said: “We are delighted to have been re-appointed by asset manager Addington Capital to help them realise the full potential of this scheme, involving a combination of our agency, building surveying and mapping teams. Their focus and investment is great news for the Park and its current and future occupiers.
“There is currently no available dedicated R&D/lab stock within the County which is frankly staggering. Initial signs are that this re-focussed scheme will attract strong interest. The R&D/Life science sector, for which Oxfordshire is so well known, wants flexible accommodation in terms of physical and leasing structure, both of which will be offered at The Quadrant.”
