A major deal has been agreed which will see a hi-tech company setting up a new base in Oxfordshire.
PhosphonicS will move into 8,594 sq ft at the Quadrangle development on Grove Business Park to set up their new office and R&D laboratory facility. A 10-year lease was agreed by property agents VSL & Partners.
The company specialises in the development and manufacture of smart scavengers for the removal and recovery of precious metals from chemical products and processes. Its products find application in many industry sectors, including pharmaceuticals, fragrance and flavours, mining, electronics and refineries.
The move will see the company occupying a major part of the 20,000 sq ft Quadrangle building that has recently been fully refurbished.
Vanessa Eastwick-Field, CEO of PhosphonicS, explained: “Our field of environmental remediation and value recovery of metals is of growing importance. It is driven by innovation and technical development, which is why we are so pleased to be joining the Grove Business Park tech community.
“Our move to the park provides space to expand our scientific team and accelerate our R&D into metal recovery towards a sustainable future. VSL were very supportive during our search for new premises, and I would like to thank them for their help.”
Duncan May of VSL said: “This deal is highly significant, especially at this difficult time, as it represents a real vote of confidence in the Oxfordshire economy. PhosphonicS will be very much at home in the county’s burgeoning science and technology sector.”
The move follows the relocation to the park of Navtech Radar, a designer and manufacturer of commercially deployed radar solutions, last October.
The company agreed a 5-year lease on unit A1 within the new GBP1 development comprising 6,500 sq ft and have since agreed an additional lease on the adjoining unit A2 of 3,500 sq ft to secure their future expansion requirements.
Richard Lyall of Grove Business Park added: “We have made a significant investment in the refurbishment of the Quadrangle, but that is paying off in a remarkably short space of time.
“I am sure PhosphonicS will integrate well amongst our other high-tech tenants, and we look forward to welcoming more in the near future. We currently have a further three properties of around 8,500 sq ft under offer at the park and are soon to announce the second phase of new build development.”
A detailed master plan is in place for the future build of the park. Eight acres of land with detailed planning consent are available to purchase in development plots or as design and build opportunities.