Legal & General and Oxford University are to develop their first residential site as part of their £4bn partnership.
Court Place Gardens, two miles south of Oxford city centre in Iffley, will be an estate containing 84 new postgraduate homes, many of which will be specifically designed for families.
The scheme is the first residential proposal under Oxford University Development, the partnership formed by Legal & General and Oxford University in 2019. OUD aims to provide thousands of new homes for staff and students, incubator space and academic facilities.
Anna Strongman, chief executive of OUD, said: “This is a fantastic milestone for the partnership and OUD as we see the first of our residential schemes be developed. We are proud of the high-quality design that responds to the beautiful landscape of the site and the sustainable merits of the scheme, such as its fossil-fuel-free nature. The development of Court Place Gardens will play a key role in the city’s evolution, creating much-needed housing to allow the city to attain and retain talent and allowing Oxford University to retain its world-class status.”
Court Place Gardens is located next to the Norman church at Iffley, where there is currently a small number of graduate houses that were built in the 1970s. These will be replaced by 71 new houses arranged in three courtyards and specifically designed for graduates with families. The new homes will feature air source heat pumps and play areas for children. The Grade II listed Mansion House will also be fully restored, with 13 study bedrooms and communal space, while the Gate Lodge will be renovated to offer three privately let bedrooms. The scheme is due to complete and be ready for occupation for the 2024/5 academic year.
David Prout, pro-vice-chancellor for planning and resources at Oxford University, said: “We are delighted that work at Court Place Gardens can now begin, replacing the site’s run-down 1970s housing with a superb new graduate community, built to the highest standards with exceptional environmental performance in keeping with the university’s ambitious sustainability targets. We look forward to working closely with L&G and OUD on this vital first step towards achieving our strategic goal of building at least 1,000 new units of graduate accommodation and 1,000 staff homes – something that will benefit the whole community by helping ease the pressure on Oxford’s housing market.”
Mike Coplowe, senior development manager at L&G, said L&G was “creating a virtuous cycle, whereby pensions and savings are used to create positive social, environmental and economic outcomes which are in line with our commitment to inclusive capitalism”.
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