Magdalen College Oxford and an affiliate of GIC have entered into a strategic partnership for the future development of The Oxford Science Park.
Singaporean sovereign wealth fund GIC is taking a 40% stake in the Park for an undisclosed figure.
The Oxford Science Park (TOSP) is majority owned and managed by Magdalen College, Oxford.
”Establishment of the partnership has accelerated a major multi-building development plan at TOSP to accommodate strong demand and future growth requirements of a range of world-leading science and technology companies,” said in a press release by The Oxford Science Park.
Several state-of-the-art facilities are planned for TOSP’s 23 gross acres of development land, with the capacity to add at least a further 500,000 sq ft. With construction of the first of these on Plot 16 expected to start before the end of the year, the Park is already experiencing strong interest in subsequent buildings. Further details of the development masterplan will be released in due course.
Rory Maw, Chief Executive of The Oxford Science Park and Bursar at Magdalen College Oxford, said: ‘We are delighted to welcome GIC as a partner in The Oxford Science Park, and look forward to working together to enhance TOSP’s position as the science park of choice for leading science and technology companies. As a long-term investor with a strategic outlook, its objectives are aligned with ours, those of our occupiers and of Magdalen College.