Science, innovation and technology
Our ambition is to invest up to £1.5 billion over the next 15 years to support the UK’s fast-growing science, innovation and technology sectors.
A shortage of suitable workspace and infrastructure remains a key challenge for the sector. Through targeted investment and partnerships, we’re committed to creating cutting-edge spaces for science, innovation and technology - supporting UK business growth, driving regeneration, and creating jobs in a sector which could help tackle some of the UK’s biggest challenges. Our work is supporting the UK’s ambition to be a global leader in Science and Innovation.
In Cambridge, we’ve submitted an outline planning application for the redevelopment of Cambridge Business Park, a 20-acre site at the gateway to the North-East Cambridge Innovation District. This project will help shape a new innovation ecosystem, offering office and lab space for both start-ups and established companies, alongside housing, leisure, and cultural amenities for the wider community.
In Oxford, in partnership with Oxford Science Enterprises and Pioneer Group, our first investment is transforming a vacant department store, 1-12 Magdalen Street, into 100,000 sq ft of high-specification life sciences, innovation and technology space in the heart of the city.
At another newly acquired site in Oxfordshire there is the potential for 4.5 million sq ft of laboratory and advanced manufacturing space, along with 400 homes. It is located next to the world-famous Harwell Science and Innovation Campus. The site is projected to have a Gross Development Value of £4.5 billion, and contribute £2.5 billion to GDP, while generating 30,000 jobs.
Cambridge Business Park
We have submitted plans for a £2 billion transformation of Cambridge Business Park, creating a new science, innovation and community destination that will help establish a globally significant Innovation District in North East Cambridge. As part of our long-term commitment to the UK’s science, innovation and technology sectors, we aim to create a place that supports both national economic growth and local communities.
Embracing sustainable design principles, our proposals include up to 1.8 million sq ft of office, research and development space, supporting around 8,000 jobs in high-growth sectors. We also plan to deliver a vibrant new neighbourhood with up to 500 homes, including affordable housing, alongside up to 60,000 sq ft of new retail, leisure and community space.
Shaped by two years of engagement with local communities, businesses and stakeholders, the masterplan will provide green spaces, a new main square and improved walking, cycling and public transport connections.
Oxford Science Partnership
In May 2024, we announced a partnership with Oxford Science Enterprises (OSE) and Pioneer Group, marking the first step in our long-term ambition to invest £1.5 billion in science, innovation and technology.
OSE is one of the world's leading builders of university spinouts, while Pioneer Group is Europe's only life sciences growth facilitator, making them perfect partners to help address the built environment challenges currently facing these sectors and making the most of the opportunity for the UK.
Recognising that a shortage of suitable workspace is a barrier to growth, our initial £125 million investment is transforming 1-12 Magdalen Street into 100,000 sq ft of high-specification life sciences, innovation and technology space in the heart of Oxford.
