Plans to redevelop former Oxford Debenhams into science and tech hub green lit
The Crown Estate’s plans to redevelop the former Debenhams department store in Oxford into a home for science, technology, and innovation businesses have been given the green light.
Located at 1-12 Magdalena Street, the property is being redeveloped in partnership with science and innovation developer Pioneer Group and venture builder Oxford Science Enterprises (OSE).
The building will feature a number of labs, alongside a dedicated conference and events space, which includes a ‘Showcase Lab’ for OSE companies.
Kristy Lansdown, managing director for development at The Crown Estate, said: “1-12 Magdalen Street will deliver world class science facilities in the heart of the city – a place with not only a rich cultural history, but one that is entrenched in the history of science and progress. Alongside our outstanding partners at Pioneer Group and OSE, we are committed to creating a best-in-class lab space for innovative start-ups and scale-ups that will strengthen Oxford’s appeal to the wider sector and contribute meaningfully to economic growth.”
Harry Pickering, portfolio director and head of UK real estate at Pioneer Group, said: “Securing planning permission for 1–12 Magdalen Street is a significant milestone in transforming a prominent Oxford city centre site into a new home for science and innovation. Together with The Crown Estate and Oxford Science Enterprises, we are creating high-quality laboratory space that will support the next generation of breakthrough companies and strengthen Oxford’s position as one of the world’s leading innovation ecosystems.”
The development of 1-12 Magdalen Street represents an initial investment of around £125m from The Crown Estate and is part of the organisation’s commitment to invest £1.5bn into the science, innovation and technology sectors over the next 15 years.