The 86,000 sq ft Iversen Building at The Oxford Science Park (TOSP) has reached 100 per cent occupancy, just 12 months after practical completion. 

In its final deal, the Ellison Institute of Technology (EIT) has taken 26,000 sq ft and will begin moving into the top floor of the building in April. EIT is currently developing  a total 300,000 sq ft at the park.

Designed by Perkins+Will, the building and its successful letting have contributed to TOSP’s strong performance in 2024.

Cushman & Wakefield data suggests the park’s overall wet-lab take-up in Oxford increased from six per cent in 2023 to 53 per cent. Additionally, 37 per cent of life science venture capital in Oxford has been invested in companies at TOSP since 2021.

Jamie Renison, head of life sciences agency UK at Cushman & Wakefield, said: “The Iversen Building is a vital injection of outstanding lab space into the Oxford, and the wider Golden Triangle life sciences market, and we are delighted to see it reach full occupancy.  

“The Oxford Science Park promotes a culture of innovation and development among its community, offering science organisations the scope and opportunity to scale within the park itself, and the Ellison Institute of Technology is a prime example of this.”

Charlie Senior, head of asset management at TOSP, said: “Achieving full occupancy of The Iversen Building within 12 months of practical completion highlights the strength of Oxford’s life sciences ecosystem and the appeal of The Oxford Science Park as the leading destination for science and technology companies.

“This momentum underscores our ongoing commitment to delivering high-quality lab and office space to meet the growing demands of the sector, both for existing and future companies.”

TOSP has a development pipeline of more than 600,000 sq ft due to be delivered over the next few years. Construction in under way on the 450,000 sq ft Daubeny Project and building work is due to start in early 2026 on the Leggett Building, next to the Iversen Building, providing a further 78,800 sq ft of laboratory and office space. 

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