Mission Street has recently achieved an important milestone in the construction of the new Oxford innovation hub
Mission Street is a specialist investor, developer, and operator for the science and innovation sector. They are currently working in collaboration with BGO to redevelop a retail warehouse unit on Botley Road in Oxford’s West End.
The Oxford innovation hub, called Inventa, will offer 65,000 square feet of prime innovation real estate located within a short walk from Oxford railway station.
The topping-out ceremony on July 27 marked the completion of the new structure, and the scheme is expected to be finished by Q4 2023.
Inventa will serve as a commercial science space in Oxford’s West End. Mission Street has proposed a Phase 2 project named Fabrica, a 183,000-square-foot new-build project at the former DFS and Carpetright location.
Mission Street wants to create a world-class science facility
A science-focused space exceeding one million square feet is in progress within the West End. This includes projects like the Oxpens development, which is currently awaiting planning approval.
The building will feature adaptable floor spaces, a public café, and new green areas. The facility also aims to be a ‘living wage building’, meaning all future occupants and service providers must pay the Oxford living wage to their staff.
The Oxford innovation hub is aiming for a minimum BREEAM Excellent rating
The design features solar panels, 200 bicycle storage spaces, and shower facilities. The parking area will accommodate 74 cars, with approximately a quarter of them equipped with EV charging facilities.
Mission Streets project coincides with a series of government initiatives aimed at improving the UK’s research institutions. The initiatives are designed to combat restrictive economic regulations and poor physical infrastructure that has hindered growth.
The UK has ambitious plans to grow its science and innovation sector
In June, Jeremy Hunt unveiled the “Life Sci for Growth” package, a £650m commitment to enhance the country’s life sciences sector. This includes up to £250m to encourage pension schemes to invest in science and technology firms.
A further £154m will boost the capacity of the UK’s biological data repository. The Mansion House Compact, introduced in July, involves nine pension funds with $1.3tn in assets, leading to a minimum of 5% for unlisted equities.
This shift could channel an extra £50bn into private and growth companies, transforming the landscape of UK innovation businesses.
“Mission Street continues to act as an enabler for the science and technology sectors by building the infrastructure that enables start-ups and scale-ups to grow and commercialise. By reaching the latest site milestone at Inventa, we are now a few months away from completing the scheme,” said Artem Korolev, founder and CEO of Mission Street.
“We are proud to be delivering a scheme that genuinely provides benefits at a local level whilst addressing the chronic undersupply of high-quality lab and office space that is much needed in the Oxford ecosystem,” he concluded.
