The site of the former Debenhams in Oxford will soon be transformed into a circa 100,000 sq ft life sciences, technology and innovation space in the heart of the city.
The Crown Estate is partnering with Oxford Science Enterprises and Pioneer Group to provide vital lab space in the region. The project, with an initial investment of about £125 million by The Crown Estate, marks the start of a partnership with a long-term ambition to invest up to £1.5 billion to support the UK’s science, technology and innovation sectors.
Oxford is the third most intensive science and innovation cluster globally and is ranked second globally for Life Sciences Research. Its university is the leading academic institution in the world for university spinouts, with 210 founded since 2011, adding to the pool of successful UK startups that secured more VC funds than France and Germany combined in 2023.
However, a lack of available and suitable real estate, especially for early-stage businesses, has been identified as a crucial barrier to growth for the UK’s science, technology and innovation industries, especially in supply-constrained locations such as Oxford.
To seize this opportunity for Oxford and the wider country, the three partners bring together the industry-specific expertise and capabilities that underpin their collective ambition: to deliver the real estate needed to support the growth of the UK’s next generation of innovative companies.
Oxford Science Enterprises is one of the world’s leading builders of university spinouts, having worked alongside academic founders to found, fund and build over 80 transformational companies created from ground-breaking research at the University of Oxford. OSE brings access to a cohort of the country’s most exciting science and technology businesses and a deep understanding of their requirements as they scale.
Pioneer Group is Europe’s only life sciences growth facilitator to provide a complete ecosystem of laboratory space, venture funding, strategic guidance, and state-of-the-art real estate. The ecosystem was established in 2003 and is designed to nurture and accelerate the growth of enterprises focused on planetary and human health. It manages a portfolio of over four million sq ft in key locations, including London, Manchester, Edinburgh, and Dublin.
The Crown Estate has a diverse national footprint, a proven ability to bring together the public and private sectors and a unique structure compelling it to act in the long-term national interest. It has identified science, technology and innovation as a sector where it can have a meaningful impact to support regional economic growth.
By working in partnership with others, it can provide the space desperately needed to prevent world-class UK startups looking abroad, drive wider regeneration and attract inward investment.
Subject to planning, construction at the former Debenhams site to transform it into an innovation space will begin next year, with the lab space due to be fully operational by 2027/2028. The site will provide a much-needed, high-specification solution to the needs of Oxford’s fast-growing science, technology and innovation sectors.
Hannah Milne, Managing Director, Regional at The Crown Estate, commented: “The Debenhams site in Oxford is a prime example of how we are seeking to support regional economic growth in the UK. We identified a gap between the fast-paced growth of science, technology and innovation businesses and the lack of suitable and available lab space.
“By using our extensive portfolio to support growth sectors, we can have a positive impact in supporting local and national economic development. Oxford Science Enterprises and Pioneer Group are ideal partners to join us on this journey. We look forward to working with them and Oxford City Council to accelerate innovation and economic growth for Oxford and further afield.”
Ed Bussey, CEO at Oxford Science Enterprises, said: “The UK’s science and technology sector is full of promising businesses with the potential to solve some of the world’s toughest challenges, but they often struggle to access the right lab or startup space – which can be a significant barrier to entry for companies as they scale.
“As a key player in Oxford’s innovation ecosystem, we’re proud to partner with The Crown Estate and Pioneer Group to support entrepreneurs and companies working at the forefront of the UK’s science superpower strategy. This collaboration will ensure the next generation of pioneering life science and technology companies have the necessary space to grow their operations in the heart of Oxford and continue to export world-leading research from the region to the world.”
Richard O’Boyle, Executive Director at Pioneer Group, said: “We are thrilled to partner with The Crown Estate and Oxford Science Enterprises, two industry-leading organisations, on this pioneering initiative. Our joint effort will not only transform the former Debenhams site into a leading life sciences hub but also deliver extensive developments throughout Oxford.
“This collaboration will create a central nexus for scientific innovation, supported by our accelerator and launch programs aimed at empowering science entrepreneurs. With the UK’s largest network of life science experts, cutting-edge labs, and robust support systems, we are poised to redefine industry standards and foster a vibrant scientific community. This is just the beginning of a far-reaching and impactful partnership that will enhance innovation across our existing locations and beyond.”
