Oxford BioMedica has taken on the 84,000 sq. ft. OxBox development at Oxford Business Park on a 15-year lease in what is one the largest deals in Oxfordshire so far this year, according to commercial property agents VSL.
The sorting office, formerly known as the Oxford Mail Centre, closed its doors to its 450 workers in June 2009, moving Royal Mail’s sorting operations from the city to Swindon.
The firm will move into the office space immediately and will also start working on a two-phase fit out of the building funded by its £20.5m share placing secured earlier this year.
This will see the installation of 45,000 sq ft of clean rooms, offices, warehousing and laboratories with space left over for future expansion.
Once open, the facility will more than double the Group’s bioprocessing capacity. The plan is to open the new offices and warehouse by the first quarter of next year with the additional GMP suites being ready a year later. Up to 100 highly skilled jobs will be created, adding to the company’s existing 400-strong workforce.
The move comes just three years after Oxford BioMedica relocated from The Oxford Science Park to its new headquarters building at Windrush Court, the former British Biotech headquarters building, which provides circa 70,000 sq. ft. of laboratories and offices. Oxford BioMedica also operates from Harrow House which provides predominantly laboratories and they have a separate manufacturing facility at Yarnton.
VSL Director Andrew Lockhart said: “This is fantastic and exciting news not just for BioMedica but for Oxford as a whole. This facility has been vacant for almost 10 years and an investment of this scale by a local company represents a huge vote of confidence in the local economy and its burgeoning biotech sector.”
VSL has had a successful long-term relationship with BioMedica for more than 15 years and has not only identified and negotiated terms for the acquisition of new buildings but also advised on rent reviews and business rates appeals to manage costs.
Oxford BioMedica was founded in 1995 as a spin-out from the University of Oxford’s Department of Biochemistry and has since developed into a leading gene and cell therapy company as it continues to develop its LentiVector delivery platform.
Chief Executive Officer John Dawson said: “We are delighted to secure this new facility in Oxford for our capacity expansion programme. With the finances secured earlier this year, we are now able to accelerate our investment in the new facility which, once on stream, will have the capacity to meet the expected long-term demand for lentiviral vectors.”
The move is also a welcome boost for landlord DTZ investors which refurbished the building following the departure of Royal Mail.
Christian Birrell of DTZ Investors said: “We took advantage of the departure of a long-standing tenant to completely repurpose the facility and are delighted it will provide an important new base to support Oxford BioMedica’s ground-breaking science and technology offering.”
For further information, please contact VSL on 01865 848 488 or visit www.vslandp.com