Vital infrastructure work has started for a new £90m science and technology park which will provide much needed R&D and hi-tech space for Oxfordshire’s growing A34 Knowledge Economy Spine. The park is capable of creating 4,000 jobs. The first buildings could be available from as early as 2018.
Oxford Technology Park is part of a rapidly growing science community located around Kidlington, to the North of Oxford, along with the University of Oxford’s Begbroke Science Park. The Park is owned by Hill Street Holdings who have a track record of science developments in the South East.
“This is a much needed purpose built technology park for Oxford,” comments Angus Bates, Director of Hill Street Holdings.“Our experience of building bespoke facilities for science and technology companies has allowed us to design bespoke features for high tech units on the park including investing in a large power supply, dedicated secure service yards, landscaped campus style, access to high speed fibre broadband, and buildings with 8m clear internal height capable of taking flexible upper floors, loading doors, adequate floor loadings, and a high proportion of windows all round for natural light.”
The Oxford Technology Park has planning permission for 440,000 sq ft of new Grade A offices and hi-tech buildings capable of providing laboratory, R&D, workshops and clean rooms bespoke to occupier’s requirements.
The Park is being marketed by Bidwells and Benedicts.
David Williams, Partner at Bidwells, agents for the project said: “It is good news for Oxford’s science and technology businesses to have a new purpose-designed campus of this scale on the city’s doorstep.”
“The level of demand really speaks for itself. Research by Bidwells shows that first-quarter take-up in the tech sector hit 310,000 sq ft, of deals completed and under offer. This activity has resulted in prime office rents in the Oxford area growing by 21.7% since the end of 2014 to a record high of £28 per sq ft – twice the average growth of IPD ‘all office rents’ which have grown 10.8% during the same period.”
