Legal & General is to fund the £200 million Life and Mind Building at the University of Oxford, the largest development in its history.
The departments of zoology, plant sciences and experimental psychology will be combined in the striking new 25,000 sq m building which will replace the Tinbergen Building.
The funding is part of the £4 billion partnership with the university which was announced in June 2019.
The Tinbergen Building was demolished due to the discovery of asbestos. Work is now due to start on the new building which was designed by world-renowned architectural practice, NBBJ, in July 2021. It is due to open in late 2024. There will be space for the public to attend events including a 350-seat lecture theatre, wet and dry labs, teaching space and offices.
Nigel Wilson, chief executive for Legal & General, said: “The Life and Mind Building will provide students with a modern, state-of-the-art facility that helps continue the University of Oxford’s legacy as one of the world’s most pre-eminent teaching institutions.
“We are extremely proud of our partnership with the University of Oxford, which in the wake of Covid-19 will help retain talent in the city, whilst driving essential inward investment and providing opportunities for world-leading innovation as well as much needed housing for key workers.
“Legal & General has invested over £25bn in levelling-up regional economies throughout the UK, including by forming major partnerships with local and central governments, universities and local businesses in Cardiff, Greater Manchester and Newcastle.
“By facilitating investment in the UK’s regional cities, we are creating a virtuous cycle whereby pensions and savings are used to create positive social, environmental and economic outcomes which are in line with our commitment to Inclusive Capitalism.”
Prof Louise Richardson, vice-chancellor of the university, said: “This fabulous building will provide innovative facilities for teaching and research, which will enable Oxford to train a new generation of scientists who in turn will help us to address critical global challenges.”
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