Brookfield launches ARC Oxford – the new destination for science and technology
Brookfield, the global alternative asset manager, has today officially launched ARC Oxford (formerly Oxford Business Park), bringing new science-ready space to the market, to meet growing demand for lab space from life science organisations which has reached nearly 860,000 sq. ft* in Oxfordshire.
By the late 2020s Brookfield is set to invest over £1 billion in Oxfordshire across the ARC Oxford and Harwell Campuses. ARC’s growth strategy reflects demand for high-quality labenabled space significantly outpacing demand and outlines the types of investments Brookfield is looking to make across the U.K, through ARC.
ARC’s ambitious plans could see the current 514,000 sq. ft Oxford City space double in size as it brings new laboratories, cleanrooms, offices and cutting-edge R&D facilities to the campus – with the first 50,000 sq. ft available in 2023.
The ongoing development at ARC Oxford is helping ease the demand for space, following the sharp rise in the number of life sciences companies since the pandemic, which has accounted for 73% of all take up over the past 18 months*.
Since Brookfield acquired Oxford Business Park in 2021, ARC has already speculatively redeveloped, refurbished and let around 60,000 sq. ft of space to accommodate this demand, allowing the campus to welcome three new leading science organisations and create space for current members to grow.
Ivy Farm Technologies, is leading the UK’s cultivated meat revolution, and OMass Therapeutics which is discovering new drugs to treat orphan or immunological disease, have both partnered with ARC to deliver tailored full building refurbishments. ARC has introduced fully fitted CL2 wet labs and office space for these customers, totalling 18,000 sq. ft and 16,000 sq. ft respectively. Exact Sciences, a company helping to change lives through earlier and smarter detection of cancer has taken over 17,000 sq. ft of lab enabled space, while current member Accession Therapeutics, which is developing novel immuno-oncology therapeutics to treat the most intractable and widespread forms of cancer, has increased its existing space by 30 percent to accommodate its growth.
Dan Williams, Director of Asset Management at ARC Oxford, said: “Oxford has a thriving innovation ecosystem, however science-ready space is in short supply across the City. “We’ve been working in partnership with our members to understand their needs, so that we can invest and build state-of-the-art, flexible research and development space on a speculative or pre-committed basis. This will allow our members to scale at pace, focusing on the scientific discoveries that will help solve some of the greatest challenges that we face.”
Sarah Haywood, Managing Director for Advanced Oxford, added: “Advanced Oxford recognises that building the right kind of start-up and scale-up space is crucial for the success of Oxfordshire’s incredible science and technology companies. We welcome the investment ARC Oxford is making in their campus and see it as an important vote of confidence from a leading international investor.”
ARC Oxford is part of ARC’s science and tech network of clusters, joining Harwell Science and Innovation Campus, ARC West London and ARC Uxbridge. The company has five million sq. ft of development potential planned across the UK’s Golden Triangle, with three million sq. ft planned at the 700-acre Harwell site.