Life Science REIT acquires Oxford Technology Park

Life Science REIT has acquired Oxford Technology Park, a 20-acre science and technology park, for £120.3 million (€142.47 million/$147.5 million).

The acquisition includes the park’s debt of £33.8 million (€40.0 million/$42.2 million) and the company will also provide up to £62.7 million (€74.3 million/$78.2 million) of forward funding to complete the park’s build-out which, once fully developed, will comprise up to 450,000 square feet of mixed-use life science space and amenity assets. Phase 1 has been completed and occupied. The park provides a combination of spaces, including laboratory, production and office uses required for life science occupiers along with amenity facilities, ranging from 6,000 square feet to 50,000 square feet.

Oxford Technology Park is located less than two miles from Oxford University’s Begbroke Science Park campus, seven miles north of Oxford city center and adjacent to Oxford Airport.

The latest acquisition means Life