Railpen has bought Eastpoint Business Park, an Oxford life-science asset. The strategic addition to its life sciences portfolio is Railpen’s first entry into the Oxford market and follows significant investment in the Cambridge innovation sector.
Positioned in a prime location two miles south-east of Oxford city centre and in close proximity to Oxford Business Park and Oxford Science Park, Eastpoint Business Park comprises five buildings with a net internal area of 74,823ft².
The business park was purchased for €34.3m (£29m) from AEW, and will be completely repositioned by Railpen to create a flagship laboratory-led asset that will help meet the significant demand from occupiers for such space in the city, while also delivering strong returns for Railpen’s members.
Alistair Dawson, Senior Asset Manager at Railpen, commented: “We have been actively pursuing investment into the life sciences sector in Oxford, a global geographic leader in scientific research, and were able to move quickly once the right asset became available. Eastpoint met all our criteria to deliver enhanced returns to our members through strategic acquisitions; it is in a prominent location in a city that is oversubscribed with demand yet undersupplied with quality stock, and the site has great development potential. Combined, these factors mean that under our ownership, it will become even more important to occupiers seeking space in Oxford’s life sciences sector.”
