Oxford Life Science building revealed as "prime asset" sells for £21.5m

An Oxford Life Science building has been sold for £21.5 by Buccleuch Property and Wrenbridge to IM Properties.

The sustainable new building, ‘Nova’, will target EPC A+, BREEAM Outstanding and include onsite renewables including Solar PV’s and electric vehicle charging and extensive landscaping and employee wellbeing features.

Having secured planning for the scheme Buccleuch and Wrenbridge have appointed contractors Parkway and the scheme is due for completion in December 2023.

The 43,572 sq ft building is situated to the south of Oxford city centre in Cowley in close proximity to Oxford Science Park and Arc Oxford providing an excellent location for Life Science occupiers.

Sandy Smith, development director of Buccleuch Property, said: “Working with Oxford City Council and our professional team, it’s great to see Nova, one of the most sustainable new build buildings to come forward in Oxford, about to start on site. Its EPC A+ and BREEAM Outstanding credentials are already attracting occupier interest and we look forward to delivering another project with Wrenbridge and IM Properties.’’

James Feltham, director of Wrenbridge commented “We are pleased to have secured the forward sale of this best in class mid-tech building to IM Properties. This builds on a strong relationship Wrenbridge and Buccleuch have developed across a number of transactions with IM Properties.”

John Hammond, UK investment director of IM Properties added: “This is a perfect prime asset for us to invest in and make an entry into the life sciences and Oxford - Cambridge arc market.

“It offers a best-in-class specification aligned to our Sustainable Future’s goals to develop a socially responsible investment portfolio alongside trusted partners who are equally committed to creating buildings built for the future.’’