The Crown Estate has bought a 221-acre site in Oxfordshire which it says it will redevelop for science space and housing. The Harwell East development could include up to 4.5m sq ft of office, laboratory and manufacturing facilities as well as up to 400 homes.
The plot sits next to the Harwell Science and Innovation Campus and is estimated to have a gross development value of £4.5bn.
Image of Harwell Campus 2015
The investment forms part of the Crown Estate’s pledge to invest up to £1.5bn in the tech sector over the next 15 years.
Chief executive Dan Labbad said the UK’s science, innovation and technology sector needed “specialised lab facilities and housing” to expand, which the Harwell East project aims to provide.
The Crown Estate, which part funds the monarchy, will work with Crucible, a new company focused on supporting the delivery of science infrastructure, to secure planning permission for Harwell East.