Development Securities and Prorsus have secured an option to develop a 700-acre site at Harwell Oxford Science Campus.
The joint venture will see DevSec and Prorsus vehicle Harwell Oxford Partners control a 50% stake in the project alongside government agencies the Science and Technology Facilities Council and the UK Atomic Energy Agency.
DevSec and Prosus paid £6.7m for the stake.
Around 30% of the site has already been developed to provide accommodation for 170 science and research companies employing 5,000 people.
DevSec and Prosus are now working up a masterplan for the next phase of development comprising around 1m sq ft of commercial and research and development space.
Michael Marx, chief executive at Development Securities, said: “Our partnership at the Harwell Oxford Campus presents an outstanding opportunity for us develop of one of the world’s most important centres for commercial science. The campus has a powerful legacy, with world-class infrastructure on site and an established community of internationally significant science and research organisations.”
jack.sidders@estatesgazette.com
