BCLP advises The Oxford Science Park on £890m sale to The Ellison Institute of Technology

International law firm BCLP has advised Magdalen College, Oxford and its joint venture with Singaporean sovereign wealth fund GIC on the sale of part of The Oxford Science Park to The Ellison Institute of Technology (EIT) for £890 million.

The Oxford Science Park (TOSP) is one of Europe’s leading destinations for science and technology companies, and this transaction is a strategic step in a partnership between TOSP and EIT. The partnership supports discovery, innovation and entrepreneurship in Oxford, helping to make it a truly global hub for scientific research and development. This sale enables EIT to expand its campus, while ensuring that TOSP continues to develop as a vibrant community for pioneering science and technology companies. Companies based at TOSP will benefit from increased collaboration opportunities with EIT, and from ongoing investment in the Park.

Yong Shen, Bursar of Magdalen College, said: “We are delighted to partner with EIT on their ambitious expansion plans, which will no doubt accelerate the growth of world-class science and innovation in Oxford. Our current and future occupiers will benefit from close proximity to the expanded EIT campus, creating new opportunities for collaboration and engagement with groundbreaking research.”

BCLP advised on all aspects of the deal, including tax structuring, showcasing the firm’s ability to deliver high-value, complex and structured real estate transactions. Having advised on the formation of the joint venture between the College and GIC in 2021, and the subsequent restructuring and refinancing of the park in 2022, this transaction represents a meaningful culmination for the BCLP team.

Chris de Pury, Partner, Real Estate said:“We are delighted to have advised on this transformative investment, which marks a major milestone for Oxford’s innovation ecosystem. The size and complexity of this transaction really demonstrates the strength and depth of the BCLP real estate sector team, and we are proud to have played a part in this landmark project.”

The BCLP team was led by Partners Chris de Pury (Real Estate), Adam Bogdanor (Corporate Real Estate and Funds), James Banks (Real Estate) and Andy West (Tax), supported by Katie Farrelly, Rachel Sheridan, Sophie Marsden, Katy Peacock, Tom Pounds and Ifrah Hussein (Real Estate); Jack Pepper, Jacquelynne Baey and Kirila Bucheva (Corporate Real Estate and Funds); Alex Cheetham and Maite Aguirre Quinonero (Tax); Ellie Penton and Michael Buhagiar (Real Estate Finance)’ and Sam Levy (Planning).