Wrenbridge and Buccleuch Property are pleased to announce that a sale of Nova, Oxford has been agreed with IM Properties for £21.5m on a forward commitment basis. The 43,572 sq ft mid-tech Life Science property has recently secured planning and will be commencing onsite in the coming weeks.

Wrenbridge and Buccleuch Property have secured planning for a 43,752 sq.ft. mid-tech building. The building is designated for B2, E(g)(ii) and E(g)(iii) uses. The highly sustainable new building will target EPC A+, BREEAM Outstanding and include onsite renewables including Solar PV’s and electric vehicle charging and extensive landscaping and employee wellbeing features. The building with have high quality offices, 10m clear internal heights, 50kN/sq m floor loading, surface level loading doors and self-contained yard and parking.

Nova is situated to the south of Oxford City centre in Cowley strategically located in close proximity to Oxford Science Park and Arc Oxford providing an excellent location for Life Science occupiers.

Having secured planning for the scheme Wrenbridge and Buccleuch have appointed contractors Parkway and the scheme is due for completion in December 2023.

Sandy Smith, Development Director of Buccleuch Property, commented “Working with Oxford City Council and our professional team, it’s great to see Nova, one of the most sustainable new build buildings to come forward in Oxford, about to start on site. Its EPC A+ and BREEAM Outstanding credentials are already attracting occupier interest and we look forward to delivering another project with Wrenbridge and IM Properties.‘’

James Feltham, Director of Wrenbridge commented “We are pleased to have secured the forward sale of this best in class mid-tech building to IM Properties. This builds on a strong relationship Wrenbridge and Buccleuch have developed across a number of transactions with IM Properties. Having secured planning we are now commencing construction of the building which will deliver the much-needed space for Life Science occupiers later this year.’

John Hammond, UK Investment Director of IM Properties commented “This is a perfect prime asset for us to invest in and make an entry into the life sciences and Oxford – Cambridge arc market. It offers a best-in-class specification aligned to our Sustainable Future’s goals to develop a socially responsible investment portfolio alongside trusted partners who are equally committed to creating buildings built for the future.’’