Housing and Innovation
Housing and innovation at the University of Oxford.
Two of the key objectives set out in the University’s 2018-2024 five-year Strategic Plan were to create new innovation districts at sites such as Begbroke and Osney Mead, as well as at least 1,000 new staff homes and 1,000 new units of graduate accommodation.
Increasing the supply of good quality, affordable homes is vital if we are to continue to attract the world’s best researchers and students. We are very aware that finding a suitable place to live at an affordable price is a major challenge for many of our people, and that we need to do more to help.
Importantly, the new housing we plan to build will benefit the wider Oxford community, helping relieve pressure on the supply of local housing by removing significant numbers of staff and students from the private rental market.
The creation and expansion of innovation districts will enable us to offer better facilities for University spinouts, work more closely and effectively with innovative private-sector partners, support our local economy with high-quality jobs, growth and income, and make an even greater contribution to the national economy.
Joint venture partnership
In June 2019, Professor Louise, Richardson, then the University’s Vice-Chancellor, announced a major new partnership with Legal & General (L&G) with the aim of helping us deliver the above commitments on housing and innovation districts.
Through the joint venture, L&G are providing up to £4 billion of funding to deliver a series of projects that will help deliver the University’s goals on creating innovation districts and new homes for staff and graduate students.
The projects are being taken forward by Oxford University Development (OUD), a key part of the joint venture. OUD are responsible for designing each project in line with the University’s requirements; consulting with the local community, statutory authorities and other stakeholders; applying for planning permission; and managing the construction tender process.
Once planning permission has been granted, each project is then completed by an L&G subsidiary, which finances construction in return for rental income from the site over a defined period.
L&G support some University projects, while others are taken forward internally (with funding from the University capital budget and/or with philanthropic donations) or with other external partners. Decisions on which model is most appropriate for a particular project are taken on a case-by-case basis.
Begbroke Science Park
Among the most exciting sites being developed under the joint venture is the area in and around the University’s existing Begbroke Science Park, five miles from central Oxford between Yarnton and Woodstock.
The University and its partners are working to build on the Science Park’s track record of incubating and growing successful start-ups and spin-outs and fostering innovation and collaboration with the private sector. This is being done both by expanding the existing Science Park and, in the longer term, by creating a unique new innovation district on the 170 acres of University-owned land around it.
Planning consent has been received for the proposed development, which will include new science and innovation facilities, around 1,800 high-quality new homes, a school, facilities for sport, healthcare and community activities, and bars, shops and restaurants. Half the site will be carefully landscaped green space, with the goal of increasing biodiversity by at least 20%.
Detailed designs are now being produced, and it is hoped that the first houses will be ready in the early 2030s.
Get in touch
If you have any queries, please contact the University at [email protected].
Further information for University Staff only.
Contact us
Email: [email protected]