Legal & General has provided £200m of funding to deliver a sciences hub for the University of Oxford.
The Life and Mind Building, the largest project ever planned by the university, will be a teaching and research facility for its Zoology, Plant Sciences and Experimental Psychology departments.
Funding will be provided from Legal & General’s retirement business, with Legal & General acting as the developer and LGIM Real Assets as development manager.
The building is scheduled to open in 2024.
The deal is part of L&G’s £4bn partnership with the university, agreed in June 2019, to develop thousands of new homes for staff and students as well as new facilities.
L&G chief executive Nigel Wilson said: “The Life and Mind Building will provide students with a modern, state-of-the-art facility that helps continue the University of Oxford’s legacy as one of the world’s most pre-eminent teaching institutions.
“We are extremely proud of our partnership with the University of Oxford, which in the wake of Covid-19 will help retain talent in the city, whilst driving essential inward investment and providing opportunities for world-leading innovation as well as much needed housing for key workers.”
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