Crown Estate seeks partners for £80 million life science refurb
Former Oxford Debenhams site to be transformed to modern science space
20 August 2025
The Crown Estate has secured planning and begun procurement for an £80 million refurbishment of 1-12 Magdalen Street in Oxford, the former Debenhams department store, into a high-specification life sciences and innovation hub. The project marks the first major development under a partnership between The Crown Estate, Oxford Science Enterprises (OSE), and Pioneer Group, and is part of a broader ambition to invest up to £1.5 billion in UK science and technology infrastructure.
The 13,000 sqm building, located at the heart of Oxford’s city centre next to George Street and under the iconic viaduct, will be transformed over a 32-month construction period beginning in February 2026. The site, which retains its 1980s facades from the previous Debenhams redevelopment, will undergo significant structural modifications to enable multi-tenant laboratory and research use.
Key elements of the scheme include:
* Structural alterations including new cores, mezzanine levels, and atrium adjustments
* Replacement of all mechanical, electrical, and plumbing (MEP) systems
* Fit-out of flexible laboratory and office space across five floors
* External modifications and roof-level upgrades
* Ongoing operation of ground floor retail during construction
When completed by late 2028, the new facility will provide around 100,000 sq ft of high-performance lab and innovation space aimed at early-stage and scaling life sciences, tech, and innovation businesses.
The Crown Estate’s initial £125 million commitment to the project highlights its strategic focus on science and innovation as a growth sector. By partnering with OSE and Pioneer Group, the initiative aims to address the acute shortage of suitable space for startups in Oxford’s supply-constrained property market.
Oxford is the world’s third most intensive science and innovation cluster, home to the highest number of university spinouts globally. Since 2011, the University of Oxford has produced more than 210 spinouts, with the UK’s broader tech ecosystem now ranked third in the world and first in Europe.
Ed Bussey, CEO of Oxford Science Enterprises, said: “This collaboration will ensure the next generation of pioneering life science and technology companies have the necessary space to grow their operations in the heart of Oxford and continue to export world-leading research from the region to the world.”
The development aligns with The Crown Estate’s broader objective of supporting regional economic growth by unlocking high-quality space for key industries. Pioneer Group, which manages a 4 million sq ft real estate portfolio across major UK cities, will contribute expertise in life sciences infrastructure and venture growth support.
Construction will proceed while maintaining access to operational ground floor retail units, allowing for continuity in city centre footfall. The refurbishment is part of a wider strategy to bolster the UK's position as a global leader in science, technology and innovation, particularly in the life sciences sector.
