MEPC, the manager and developer of Abingdon-based Milton Park, has announced that 142 and 143 Park Drive have both reached practical completion, concluding the construction phase of the entire £24 million speculative development, Park Drive East, at Milton Park in Oxfordshire.
The three-storey building, 142 Park Drive, provides 41,000 sq ft of high-quality laboratory and high-tech office space with two floors left as shell and core to provide flexible fit-out options. In the heart of the vibrant Oxford to Cambridge Arc, 142 Park Drive has been designed to encourage expansion amongst innovative occupiers in the science and technology sector.
The building, which provides flexible working space, can be easily adapted in order to meet the strong demand evident across the wider Oxfordshire area and is a prime asset for those businesses active in leading edge research and development for which the region is renowned.
At 27,000 sq ft, 143 Park Drive is already pre-let to Oxford Immunotec, a NASDAQ listed Oxford University spin-out which has expanded from an existing premises at the park, where it has been located for over 10 years.
The move combines two of three existing Oxford Immunotec facilities at Milton Park into a brand new, purpose built facility, which will house manufacturing rooms, R&D laboratories, the company’s ODL clinical laboratory as well as sales, marketing and various headquarters functions.
The news follows the practical completion of 141 Park Drive in February this year which, at 42,000 sq ft, is one of the region’s finest speculative office and laboratory buildings.
Philip Campbell, Commercial Director for MEPC at Milton Park said: “This a fantastic milestone and we are proud to announce that Park Drive East is now complete. Our priority at Milton Park is to create an attractive environment where innovative businesses can thrive and expand, as well as driving job creation and help to bolster the local economy.
“In recent years, Milton Park has seen almost full occupancy and Park Drive East fulfils this relentless demand from science and technology businesses. The building has been designed following detailed research into the requirements of the occupier and, once again, MEPC is able to lead innovation by high level of flexibility that our customers require. We’re looking forward to welcoming Oxford Immunotec to the scheme and others who wish to join the community of like-minded business at the park.”
Buckingham Group was the main contractor for the development.