7th Apr 2014 09:40
LONDON (Alliance News) - Development Securities PLC said Monday that it had entered into a joint venture with Harwell Oxford Partners to develop the Harwell Oxford Science Campus.
The company acquired a 50% interest in a limited partnership with two government backed bodies, the Science and Technology Facilities Council and the UK Atomic Energy Agency, for GBP6.7 million for option rights over the majority of the campus.
The joint venture is currently preparing a plan for the first phase of development, which will be around 1 million square feet of commercial and research and development space.
"The Campus has a powerful legacy, with world-class infrastructure on site and an established community of internationally significant science and research organisations," said Chief Executive Michael Marx in a statement. "We look forward to bringing forward the next phase of development at Harwell Oxford and further enhancing its status and reputation."
Shares in Development Securities were trading up 0.4% at 236.68 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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