LONDON – May 30, 2024 – Greenberg Traurig, LLP’s London office has advised Pioneer Group on a landmark partnership with The Crown Estate and Oxford Science Enterprises to provide vital lab space in the heart of Oxford. Under the partnership, the site of the former Debenhams in the heart of Oxford will be transformed into an approximately 100,000 sq. ft. life sciences, technology, and innovation space.
The three partners bring together the industry-specific expertise and capabilities that underpin their collective goal: to deliver the real estate needed to support the growth of the UK’s next generation of innovative companies. The project represents an initial investment of around £125 million by The Crown Estate, with the partnership’s long-term ambition of investing up to £1.5 billion to support the UK’s science, technology, and innovation sectors.
The Greenberg Traurig team was led by Shareholder Danielle L. Martin, co-chair of the firm's London Real Estate Practice, working closely with Tax Shareholder Clive Jones, Construction Law Of Counsel Kate Kirby, Real Estate Senior Associate Dominic Provis, Real Estate Associate Natasha Kehoe, and Construction Law Associate Ben Saunders.
Martin said, “A key barrier to growth across the UK’s life sciences, technology, and innovation industries is a shortage of specialised real estate, particularly for startups. This partnership will play a valuable role in addressing this issue by opening up real estate opportunities in in-demand locations such as Oxford. It has been a pleasure to work with Pioneer Group in relation to this transformative partnership.”
Pioneer Group is Europe's only life sciences growth facilitator providing a complete ecosystem of laboratory space, venture funding, strategic guidance, and state-of-the-art real estate. The ecosystem, established in 2003, is designed to nurture and accelerate the growth of enterprises focused on planetary and human health. It currently manages a portfolio of more than four million sq. ft. in key locations, including London, Manchester, Edinburgh, and Dublin.