The Oxford Trust has completed the sale, and 12-month leaseback, of Macclesfield House, home to its Oxford Centre for Innovation.
Proceeds from its sale, for an undisclosed sum, to Oxford Business College will go into the trust’s mission to ‘encourage the pursuit of science’.
The sale’s leaseback arrangement is designed to ensure a smooth transition. During that period Oxford Innovation Space, a company originally spun out from the trust, will manage the Oxford Centre for Innovation on the trust’s behalf.
Steve Burgess, chief executive officer, The Oxford Trust, said: “This is a significant milestone in the trust’s history. The sale of Macclesfield House, home of the Oxford Centre for Innovation, has enabled us to focus and release funds to meet our charitable objectives to encourage the pursuit of science.
“We continue to support the city and county’s thriving innovation ecosystem and our all-important future scientists and entrepreneurs through our STEM education and engagement programmes.
“We are pleased to have secured a 12-month leaseback and, together with Oxford Innovation Space, will support all our clients in the transition to new accommodation. The brand name Oxford Centre for Innovation remains the exclusive IP of the trust and will be utilised in future endeavours.”
CBRE and Freeths LLP acted on behalf of The Oxford Trust.
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