In a massive boost to Oxford’s life sciences sector, the Ellison Institute of Technology is to build one of Europe’s largest private research and development campuses at Oxford Science Park, in a move that will establish a major new centre for life sciences and technology in the UK.

The U.S. billionaire Larry Ellison, who amassed his fortune through co-founding software company Oracle, is investing a further £890M in his namesake technology institute in Oxford in a project that marks a dramatic expansion of the institute’s original plans.

The site is now set to span 2M SF, up from the previously proposed 300K SF, and to host as many as 7,000 scientists, technologists and entrepreneurs.

Conceived as an innovation hub, plans for the site include extensive laboratory facilities, an oncology clinic, a library, an innovation auditorium and dedicated spaces for artificial intelligence-driven vaccine research in collaboration with the Oxford Vaccine Group.

The campus will be designed by Foster + Partners, with construction due to begin in 2026 and complete in 2027.

Oxford Science Park is owned by Magdalen College, Oxford.

The EIT, which was established in 2023, aims to improve the commercialisation of scientific discoveries in the UK in four main areas: health, medical science and generative biology, food security and sustainable agriculture, climate change and managing atmospheric carbon dioxide, and AI and robotics.

It has cultivated close links with former Prime Minister Tony Blair and senior figures in Whitehall as it seeks to foster a new generation of spinout companies and to strengthen Oxford’s position as a global centre for innovation.

The announcement comes as several agents express concerns about the level of development in Oxford compared with demand.

Of the 1.6M SF Carter Jonas estimates is under construction, around 2% is offices. The rest is split between hybrid and lab space.

Among the most notable schemes are Oxford Science Park’s Daubeny Project, totalling 450K SF, and four developments at ARC Harwell comprising 313K SF.

Several additional schemes are either under construction or planned, including Breakthrough Properties’ Trinity project, totalling 214K SF and due for completion this December. Mission Street has commenced site works for its 135K SF Fabrica building, with commencement of UBS’ 140K SF Bridge Labs awaited. Meanwhile, OSE and The Crown Estate are developing plans for 180K SF of coworking and lab facilities in the former Debenhams department store.

Bidwells added that in the lab market this year, smaller-scale requirements had softened as startups tightened budgets, but demand for large Grade A facilities from global pharmaceutical and research organisations had grown.

Overall, available Grade A office space has fallen to 120K SF, its lowest level since 2018, which has seen rents edge toward a new high of £63 per SF.