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\n Oxford City Council fully approved plans in March for 100,000 sq ft of lab space for life sciences, innovation and technology.\n<\/p>\n
\n After the department store chain went into administration, the three-storey\u00a0branch on\u00a0the corner of George Street and Magdalen Street closed early\u00a0in 2021 and did not reopen after the third\u00a0Covid\u00a0lockdown. It has remained boarded up ever since.\n<\/p>\n
\n READ MORE: Derelict Debenhams is being transformed into lab space\n<\/p>\n
\n Now the building is set for major refurbishment by The Crown Estate, with work due to start to transform the building in the first half of 2027, with a targeted completion in 2029.\n<\/p>\n
\n Last year, contractors BibbEgan Group started to strip out the former retail unit, in preparation to hand it over to The Crown Estate.\n<\/p>\n
\n The building at 1-12 Magdalen Street is being developed as part of the estate\u2019s partnership with leading science and innovation developer, Pioneer Group, and Oxford Science Enterprises (OSE).\n<\/p>\n
\n Alongside a range of labs, the building will also feature dedicated conference and events space, including a \u2018showcase lab\u2019 in the heart of the development for OSE companies to make science and innovation more visible and accessible to younger audiences.\n<\/p>\n
\n Kristy Lansdown, development director at The Crown Estate (Image: The Crown Estate)\n<\/p>\n
\n Kristy Lansdown, managing director for development at The Crown Estate, said: \u201c1-12 Magdalen Street will deliver world-class science facilities in the heart of the city \u2013 a place with not only a rich cultural history, but one that is entrenched in the history of science and progress.\n<\/p>\n
\n “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\u2019s appeal to the wider sector and contribute meaningfully to economic growth.\u201d\n<\/p>\n
\n The revamp will help to revitalise the area at the George Street end of Cornmarket.\n<\/p>\n
\n The Store boutique hotel has replaced the former Boswells department store, and clothing brand Mountain Warehouse is expected to move into William Baker House, the former home of Waterstones, in May.\n<\/p>\n
\n Harry Pickering, portfolio director and head of UK Real Estate for Pioneer Group, said earlier: \u201cSecuring planning permission for 1\u201312 Magdalen Street is a significant milestone in transforming a prominent Oxford city centre site into a new home for science and innovation.\n<\/p>\n
\n The former Debenhams in Oxford (Image: Perkins & Will)\n<\/p>\n
\n “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\u2019s position as one of the world\u2019s leading innovation ecosystems.\u201d\n<\/p>\n
\n Pete Wilder, head of property and operations at Oxford Science Enterprises, said: \u201cOxford is one of the world\u2019s leading innovation ecosystems, and with that success comes growing demand for high-quality laboratory space in central, well-connected locations.”\n<\/p>\n
\n The development of 1-12 Magdalen Street represents an initial investment of \u00a3125m from The Crown Estate and is part of the organisation\u2019s commitment to invest \u00a31.5 billion into the science, innovation and technology sectors over the next 15 years.\n<\/p>\n
#Oxford #Debenhams #125m #lab #space #scheme<\/p>\n","protected":false},"excerpt":{"rendered":"
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