Owner of The Oxford Science Park (TOSP), Magdalen College, has formed a strategic partnership with an affiliate of investor GIC to drive growth at the park.

GIC, a Singaporean global investment firm, has taken a 40 per cent stake in the TOSP for an undisclosed figure in a deal which will accelerate a major multi-building development plan to accommodate requirements of many of its world-leading science and technology companies.

A number of state-of-the-art developments are planned for TOSP’s 23 acres of development land which has the capacity for at least a further 500,000 sq ft.

Construction of the first scheme, Plot 16, is expected to start before the end of the year and  strong interest is expected in subsequent buildings.

Rory Maw, chief executive of TOSP and bursar at Magdalen College Oxford, said: “We are delighted to welcome GIC as a partner in The Oxford Science Park, and look forward to working together to enhance TOSP’s position as the science park of choice for leading science and technology companies.

“As a long-term investor with a strategic outlook, its objectives are aligned with ours, those of our occupiers and of Magdalen College. As well as being an enormous demonstration of confidence in the UK – and Oxford in particular – as a leading location for international life science and technology, this is a transformational investment for The Oxford Science Park.

“It enables us to meet unprecedented demand for high-quality laboratory and office space and to support the ambitious growth of new and existing occupiers from the UK and abroad.”

Magdalen College was advised by Cushman & Wakefield and Bryan Cave Leighton Paisner.

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