Attractive New Lease at Oxford Technology Park
Oxford Ionics Limited, the record-breaking Oxford University spin-out focused on scalable quantum computing has secured the letting of part of the ground floor of Building One at Oxford Technology Park.
The lease was completed on 4,887 sq ft for two years with a break clause at the end of the first year. This provides Oxford Ionics with initial accommodation while they prepare to occupy larger long term space on the park. With this letting, overall occupancy of the completed space at Oxford Technology Park increases a further 6.8% to 73.6%, with the Company targeting to complete a further 262,000 sq ft of space at Oxford Technology Park during the next 18 months.
Oxford Ionics, which holds world records for the performance of its quantum computer technology, announced last week that it had raised £30 million in Series A funding from some of the world’s leading tech investors.
Chris Ballance, Co-founder of Oxford Ionics, said:
“We are delighted to have completed the lease on Building One which is intended to be a stepping stone whilst we await the delivery of our larger space on the park. Quantum computing will revolutionise life sciences, from enabling design of better catalysts through to moving drug discovery from experimentation in test tubes to real-time simulation on computers. Oxford Ionics will be actively targeting life science sector customers as a future revenue source.”
Simon Farnsworth, Managing Director of Life Science REIT, said:
“This letting at Oxford Technology Park underscores the attractive nature of the specialist real estate provision at this important site in the immediate environs of Oxford. Oxford Ionics is a fantastic example of the very strong calibre of occupiers seeking space at Oxford Technology Park, driven both by the quality of our offering and the pressing scarcity of suitable space in the Oxford area. We are looking forward to working with Oxford Ionics and are very pleased to welcome them as an occupier to Oxford Technology Park. Accordingly, we are also seeing a strong volume of enquiries from high quality potential occupiers for the remaining lettings at Oxford Technology Park and we look forward to updating shareholders as these progress.”