In June 2019, the University of Oxford announced a major new partnership for the University with Legal & General Group plc, enabling it to move forward with its commitments to address the high cost of accommodation for staff and students and to develop innovation districts.
Through the joint venture, Legal & General (L&G) are providing up to £4 billion of funding to deliver a series of projects to provide approximately 1,000 subsidised homes for rent by University and college staff, around 1,000 additional units of graduate student accommodation and expansion of our existing innovation facilities.
The projects will be developed initially by Oxford University Development, a wholly-owned subsidiary of the joint venture company established by the University and L&G Group. Oxford University Development will design each project in line with the University’s requirements, consult with the local community and statutory authorities, apply for planning permission and manage the construction tender process.
Once planning permission has been granted, the project will be completed by a company wholly-owned by L&G in return for rental income from the site for a defined number of years. It is envisaged that the new housing will relieve pressure on the supply of local housing.
Additionally, the the creation and expansion of existing innovation districts will enable the University to offer enhanced facilities for its spin out companies, support the local economy with high quality jobs, growth and income, and contribute to the national economy.
The judges were impressed by the winning team’s design flair, collaborative approach, creative integration of different uses, and sensitive consideration of the needs of local communities and those who will visit the site.
The winning design team will set the bold ambition and design intent for a project that will transform the area around the university’s Begbroke Science Park to the north of Oxford.
The building represents the largest building project ever undertaken on behalf of the university and will be its biggest teaching and research facility.
The plans will add a further 12,500 square meters of new lab and office space to the site, with one of the buildings used by the university and the other leased to the private sector.
Legal & General will fund and deliver the new innovation district with the University of Oxford, extending the existing Begbroke Science Park across an adjacent 14-hectare site.
Designed by internationally renowned architect practice NBBJ, the building will house the Departments of Experimental Psychology and Biology, including Plant Sciences and Zoology.
Legal & General has announced that it will fund and deliver the new £200m life and mind sciences building with the University of Oxford.
Legal & General is providing Oxford University with the funding over 10 years for 1,000 homes for staff and 1,000 units of accommodation for students across various sites in and around the city.