Ambitious development plans by Lothbury Investment Management, the investment managers of Oxford’s Clarendon Centre, to partially demolish the centre have been approved by Oxford City Council at a meeting of the Planning Committee this week.
The proposals focus on transforming the shopping centre into a new 226,547 sq ft mixed use scheme comprising R&D laboratories, Grade A office space and student accommodation, as well as shops and restaurants. All units will be built to high sustainability standards. A new public square will be open to all, creating a green oasis in the city centre. Spill-out spaces for cafés will help make this a lively and enjoyable space.
The laboratory space comprises 50,279 sq ft, office space 103,259 sq ft, student accommodation 50,147 sq ft and retail and café space 22,862 sq ft.
Adam Smith, executive director of Lothbury Investment Management, said: “The Clarendon Centre is to undergo a major change of use which will transform Oxford city centre. This is an exciting opportunity to create a new work/life hub, bringing together academics, researchers, students and the local community in the city centre. We are delighted that the councillors have supported our proposals and shared our vision for the future of Oxford city”.
The redevelopment will include world-class laboratory space in partnership with Oxford Science Enterprises to provide serviced incubator accommodation for the burgeoning university spin-out sector, as well as offices and purpose-built student accommodation.
Work on redeveloping the Clarendon Centre is expected to begin this year, with the first phase completed by the end of 2024.