Occupiers fill up new lab at Oxford Science Park

Oxford Science Park, which is majority owned by Magdalen College alongside GIC, is about to hit 100% occupancy at its Iversen Building. The new-build facility, designed by Perkins+Will, features 88,953 sq ft of lab-ready facilities over three floors as well as parking, loading and amenities on the ground and first floors. Novo Nordisk signed for 61,000 sq ft across the top floors in the building late last year.  A spokesperson for Novo Nordisk said: “We can confirm that Novo Nordisk has signed a lease agreement in Oxford as a routine part of our ongoing operations and strategic planning.” The reminder of the space is expected to be occupied by the Ellison Institute of Technology Oxford, which already has a presence on the park at Fletcher House, and is also turning around the neighbouring Littlemore House into a 213,000 sq ft facility comprising research labs, recreation hall, restaurant, administrative space and storage. According to market sources, both leases were signed on a 10-year term. The Ellison Institute is also looking to develop a facility on plot 18 on Oxford Science Park, featuring an elevated walkway joining the two sites to enhance access and allow for collaboration across the buildings.  The deals follow Swiss pharma firm Lonza shelving its expansion plans at the building after its 2023 profit nearly halved.  Cushman & Wakefield and DTRE are leasing agents on the park; Colliers advised Novo Nordisk.