Breakthrough Properties, a global developer of life sciences real estate backed by a joint venture of Tishman Speyer and Bellco Capital, has announced the acquisition of the 1.7-acre Trinity House site in Oxford for the development of its first ground-up life sciences development in the UK.
The site was bought from landlords Devonshire Commercial in a joint venture with development manager Lateral.
‘Oxford has long enjoyed the highest caliber academic research and talent driving innovation and discovery. What has been lacking is the life science infrastructure and ecosystems to properly support that growth,’ said Dan Belldegrun, CEO of Breakthrough Properties.
The Oxford life science cluster is currently home to major UK firms such as Oxford Biomedica, Immunocore and Adaptimmune. The area features several amenities and close proximity to nearby fitness centers and hotel lodging.
Tishman Speyer senior managing director, head of Europe, Bernard Penaud added, ‘The local life sciences industry has experienced incredible and rapidly-accelerating growth, as evidenced by the record £4.5 bn raised by the UK biotech companies in 2021 alone. It is vital that the development community keep pace with this growth by producing the types of innovative, high-quality and customer-centric life science environments that Breakthrough will create at Oxford Business Park.’