Lord Vallance, Minister for Science, Research and Innovation, visited Oxford North recently endorsing the £1.2 billion global innovation district as a cornerstone of the government’s growth strategy and a vital component of the Oxford-Cambridge corridor.
The ministerial visit comes at a pivotal moment for Oxford North, which has been building momentum and strong tenant interest since its official opening by Lord Hague of Richmond in September. The development has created 2,123 construction jobs and unveiled Olafur Eliasson’s first permanent public artwork in the UK within its new two-acre Fallaize Park.
Lord Vallance said: “Oxford North is a hotbed for innovation which will help us secure the UK’s status as a global powerhouse in industries like quantum computing and life sciences.
“All the right ingredients are here – from infrastructure and talent to opportunity and innovation and this new site will empower talented teams to realise their potential and drive British-made breakthroughs.”
With a £1.2 billion gross development value, the district, delivered by Oxford North Ventures is a joint venture between Thomas White Oxford, the development company of St John’s College, Ontario Teachers’ Pension Plan and Stanhope. The first phase has now been completed totalling 158,500 sq ft and comprising two purpose-built laboratory buildings and The Red Hall, a distinctive four-storey workspace featuring an 80-seat café and 100-seat townhall.
Simon Ruck, Managing Director of Oxford North Ventures said: “Lord Vallance’s visit to see our first phase open including the fitted laboratories, is testament to the national significance of Oxford North. His recognition of our role in the government’s growth strategy validates our vision to deliver world-class infrastructure that supports the full lifecycle of innovation, from university spin outs to multinational corporations. This visit underscores the critical importance of purpose-built regional innovation districts in maintaining the UK’s global competitive edge in science and technology.”
Oxford North will cater to the whole science, technology and innovation 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 innovation, quantum computing, biotech and foodtech sectors, to help support the growth of the UK’s life science and technology industries.
When complete, Oxford North will deliver up to one million sq ft of new flexible lab and office accommodation, as well as 480 new homes, a hotel, nursery, three public parks, amenities, and a dynamic seven-day-a-week neighbourhood designed to support the UK’s next generation of science and technology innovators.
The district benefits from exceptional connectivity, located 15 minutes by bicycle from Oxford city centre and close to Oxford Parkway Station on the East West Rail corridor, providing access to 343,000 people within a 30-minute commute.
