Life sciences developer moves for Debenhams building in Oxford
Life sciences property developer Pioneer Group is close to sealing a deal for the former Debenhams department store in Oxford.
Reports suggest that a deal worth £30m for a 175 year long lease on the building is close to completion.
Located in 1 - 1 2 Magdalen Street, the three storey building was marketed to appeal to the research sector with the ground floor expected to remain as retail.
The building is owned by DTZ Investors which acts on behalf of Strathclyde Pension Fund.
Savills was appointed last year to market the long lease development
The Debenhams Oxford store closed in 2021 after the retailer went into administration.