In Oxford, there are more jobs than people, with some 46,000 individuals commuting into the city for work.1 Universities are a key driver for the growth of cities, and Oxford is already one of the UK’s fastest growing cities, but its lack of affordable residential and commercial space is making it hard to attract research graduates and scale-up businesses – things that are needed to really make this city and its economy thrive.
So we’ve partnered with the University of Oxford to provide the most significant development in its history. The 50:50 partnership, called Oxford University Development, will see the wider Legal & General business provide up to £4 billion of funding and development expertise, as part of a seven-point plan over the next 10 years, in a combined effort from Legal & General Retirement, Legal & General Capital and Legal & General Investment Management.
“This is a really crucial project,” says Anna Strongman, who is leading the partnership on behalf of Legal & General and Oxford University. “Oxford is an internationally renowned centre for innovation, but to continue to attract the best talent the city needs renewed infrastructure. One of the key components of our master plan is to not only build out space for researchers, scientists and educators, but to create affordable, high-quality homes for a range of people to live in.”