Planning consent for the project’s first phase agreed last year

A new joint venture has been established to deliver a £700m innovation district north of Oxford.

Oxford North Ventures LLP has been set up to oversee the scheme – known as Oxford North – which aims to deliver 939,000 sq ft of laboratory and workspace, along with amenities and infrastructure.

The joint venture is 50% owned by Thomas White Oxford, the development company of St John’s College, with the other 50% owned by developer Stanhope and Cadillac Fairview, the real estate arm of the Ontario Teachers’ Pension Plan.

Oxford North's new Central Park

Artist’s impression of Oxford North’s Central Park

Stanhope has also been appointed as development manager for the project, which was given outline consent for the masterplan and detailed consent for the first phase of development by Oxford City Council in March last year.

The 64-acre district will include 480 new homes – of which a minimum of 35% will be affordable – as well as shops, bars, restaurants, a hotel and 23 acres of open space.

The college said conversations had already begun with science and technology firms seeking laboratory space.

The project is the second joint venture between Cadillac Fairview and Stanhope, following the former’s acquisition of White City Place last year, which Stanhope continues to manage.