A circa 8-acre freehold site in Oxford city centre has been put up for sale as the British Rail Board (Residuary) pushes ahead with its disposal plans.
The site, on Osney Lane, is the largest plot of land to come to market in the university city since 2003 when the Radcliffe Infirmary was put up for sale.
The land is located within the West End renaissance area of central Oxford, redevelopment of which has been classified as “fundamental” and of “urgent priority” in the city council’s core strategy.
Richard Waterson, a director at Lambert Smith Hampton, which is advising the BRBR, said: “This is a significant development site in the heart of the city and is an opportunity for investors to play a role in the regeneration of the West End area. We’re anticipating a huge amount of interest, given the rarity of such a site and the undoubted potential it offers.”
LSH is not quoting a price for the land as its value is dependent on the type of mixed-use scheme that the potential purchaser puts forward. However, land values in the area are around £3m per acre.
The sale is part of a disposal plan to offload more than 150-acres of BRBR land, as revealed by EG.
samantha.mcclary@estatesgazette.com
