Oxford Sciences Innovation portfolio of spin-out companies forecasted to need at least 35,000 sq m (375,000 sq ft) of commercial property by 2025.
Barely a week goes by without an announcement for a product launch, fund-raising, or new company start-up from the Oxford Sciences Innovation portfolio.
The £600m venture company started in 2015 and already has 53 spin-out companies in its portfolio which has generated over 400 jobs. Their (conservative) projection is for this to hit 1,000 jobs by 2020 and grow by around 500 year on year after that. Companies span across Medical, Engineering and Data/A1.
This is a fantastic success story for Oxford, and the projection translates to the OSI portfolio companies occupying more than 35,000 sq m (375,000 sq ft) of office, laboratory and production space by 2025.
Clearly, this needs to be planned for otherwise there is a risk of losing these companies through lack of basic infrastructure, which would be damaging to Oxford’s economy.
So how does this work?
There is an immediate need for central Oxford-based laboratory space with several possibilities being explored in Oxford over the next few months. Within 3 years they aim to have several permanent new laboratory and innovation buildings in Oxford.
These will be part of the solution, with additional buildings on the science and technology parks around Oxford/Oxfordshire accommodating the mature companies. An example this year was acquiring one floor in the new Schrodinger building on the Oxford Science Park to accommodate Orbit Discovery, Omass Technologies and Vaccitech.
It is essential for us to share these numbers; the corporate and property worlds work to different trajectories. Please make contact with any opportunities that you wish to share by email David Williams or call 07768 985949.