Thomas White Oxford has agreed a 50-50 joint venture partnership with Canada-based Cadillac Fairview and developer Stanhope, to deliver Oxford North in Oxford, England, an €834 million ($918 million) new global innovation district.
A new company, Oxford North Ventures LLP, has been formed as a joint venture, 50 percent owned by Thomas White Oxford and 50 percent by Cadillac Fairview and Stanhope. Stanhope also has been appointed as development manager.
The scheme will offer 87,300 square meters (939,690 square feet) of laboratory and workspace to enable life-enhancing discovery, along with amenities, infrastructure and social value during the next several years.
In March 2021, outline consent was granted by Oxford City Council for the overall 64-acre masterplan and detailed consent for the first phase of new laboratories and workspace, which will total 15,793 square meters (170,000 square feet), with a link road and Central Park. Future labs and workspace ph
