It commenced the largest life sciences conversion project in the history of the UK at Victoria House in London. This is partnership with Pioneer Group and concerns the repurposing of a grade II listed building to convert 220,000 square feet of its 300,000 square feet internal area into Grade A wet lab-enabled life sciences space with the remaining 80,000 square feet renovated into office, amenity, meeting and retail spaces. This strengthens Oxford’s life sciences portfolio significantly. Since the start of 2021 alone, Oxford has completed approximately €3bn of life sciences investment and secured a further €4.5bn of follow-on development opportunities.

Elsewhere in the UK, Oxford broke ground on the UK’s largest logistics development site. This is a Joint venture with Logistics Capital Partners (LCP) and the aim is to deliver a new logistics hub of circa eight million square feet. The partnership will invest over €1.2bn to develop the park, which will also provide intermodal access through a new strategic rail freight Interchange.

In Spain, Oxford acquired via three separate transitions a portfolio composed of seven urban logistics assets, which boast 100% occupancy. This is Oxford’s first investment in Spain and the new portfolio will sit alongside its UK’s logistics platform, M7. Specifically, the assets, which total 970,000 square feet, are located in three Spanish cities: Barcelona, Bilbao and Tarragona. Their appeal is excellent connectivity to transport links and infrastructure, as well as uncapped annual CPI increases.

In Paris, it achieved 100% leasing following the completion of a comprehensive renovation scheme, transforming an office building at 32 Rue Blanche into one of Paris’s most sustainable and connected workplaces, delivering a significant rental uplift.