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A sale of a 221-acre plot of farmland next to the Harwell Science and Innovation Campus near Chilton, in the south of the county, was completed on October 8.
Landowner the Crown Estate – a collection of lands and holding belonging to the monarch as a corporation sole – has big plans for the farmland.
It estimates that the land, named Harwell East, will have a gross development value of £4.5bn.
Around 30,000 jobs could be created from the land along with plans for 4.5m sq ft of office, lab and manufacturing space and up to 400 homes.
It would form part of the Oxford to Cambridge Growth Corridor, dubbed a world-leading innovation corridor by the government.
The “vibrant and innovative” is recognised globally for its science and technology firms that contribute to and benefit from the “rich ecosystem of talent and ambition” in the region.
Plans to create the Oxford-Cambridge Growth Corridor, which aims to turn the region into ‘Europe’s Silicon Valley’, were unveiled by chancellor Rachel Reeves last year.
The government hopes its Growth Corridor will add up to £78bn to the UK economy.
Lord Patrick Vallance, the minister responsible for leading the corridor, said: “Oxford has got an astonishing growing opportunity in companies, whether that’s life sciences or others, but it’s ultimately going to become constrained.
“We do need new housing, and of course it’s really important that we take care of the environment as we do that.”
What’s more, Harwell Campus formed a new partnership with Oxford Science Enterprises and Pioneer Group to transform the former Debenhams site into around 100,000 sq ft of space for science and tech companies, in the heart of Oxford.
The Crown Estate said it is aiming to strengthen Oxford’s position as a “cornerstone” of the UK research industry.
Dan Labbad, chief executive at The Crown Estate, said: “The ambition of Harwell East is to create the space for great science to flourish, and to fuel growth and success not just in the region but for the benefit of the whole country.
“This acquisition marks the latest step on our journey to support the UK’s fast-growing sectors.
“At a time when delivering world-class science, innovation and technology space is so important to the future prosperity of the country, our role to act in the long-term national interest makes us perfectly placed to unlock the potential of Harwell East and ensure that the UK stays at the forefront of global innovation.”
Angus Horner, an ex-shareholder and campus director at Harwell for just under a decade, said it is an “exciting commitment” by the Crown Estate.
He added: “This type of project is crucial now, if we are to fully leverage our skills and capabilities to supercharge UK plc and deliver improved social, health and economic wellbeing.”
There are no planning applications in place for the Growth Corridor at the moment.
