WAE Technologies Limited, a company specializing in providing innovative technology solutions and engineering services for sectors such as renewable energy, medicine, and automotive, has become the latest tenant at the renovated Oxford Technology Park. The company has signed a 10-year lease agreement for 57,000 square feet of space, with an annual rent of £1,146,000, equivalent to £20.10 per square foot.
WAE Technologies will occupy space that is currently adapted for offices and research and development laboratories. The company is part of the Australian company Fortescue, which is listed on the stock exchange and also owns the investment fund called Foresight WAE Technology Fund. This fund invests in various ventures, including spin-offs from the University of Oxford and the University of Cambridge.
Oxford Technology Park is located near academic and research centers affiliated with the University of Oxford. The park’s hybrid buildings are highly flexible and can be tailored to different needs, offering configurations for offices, laboratories, research and development spaces, and production areas.
The construction of the fifth building was completed this week, and it is planned to obtain a BREEAM certificate at the “excellent” level. Ian Harris, Director of Asset Management at Ironstone Asset Management, the investment advisor to Reit Life Science, said, “The combination of flexible, affordable, and high-quality space, as well as the proximity to leading global life science institutions, makes Oxford Technology Park an attractive location for a wide range of tenants. WAE will be the largest tenant in the park, which is an important step towards creating a dynamic and collaborative community at Oxford Technology Park.”
The park was acquired by Reit Life Science in May 2022. It currently consists of six completed buildings with a total area of 230,500 square feet and 266,100 square feet of developable space. Existing tenants at the park include The Native Antigen Company, a manufacturer of antigens and antibodies, Oxford Gene Technology, a provider of research and diagnostic solutions, and Oxford Ionics, a leading company in the quantum computing industry.
What is BREEAM?
The source of the article is from the blog maestropasta.cz