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The Crown Estate starts $1.9b U.K. life science partnership with $159m scheme
Transactions - MAY 22, 2024

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The Crown Estate starts $1.9b U.K. life science partnership with $159m scheme

by Andrea Zander

The Crown Estate has formed a new partnership with Oxford Science Enterprises and Pioneer Group to provide vital workspace to support the United Kingdom’s science, technology and innovation ambitions.

The site is the former Debenhams in Oxford. It will soon be transformed into 100,000 square feet life of sciences, technology and innovation space.

The project represents an initial investment of £125 million ($159 million) by The Crown Estate, marking the start of a partnership that has a long-term ambition to invest up to £1.5 billion ($1.9 billion) to the sector.

Subject to planning, construction at the site will begin next year, with the lab space due to be fully operational by 2027-2028.

“Science, technology and innovation are vital growth sectors for the United Kingdom as the nation looks to cement its position at the forefront of innovation globally,” said Dan Labbad, chief executive at The Crown Estate. “To realize this goal, the sectors mu

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