Oxford Nanopore sells and leases back HQ building to The Oxford Science Park

By Nicky Godding

12 July 2022

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Oxford Nanopore Technologies plc, the company behind a new generation of molecular sensing technology based on nanopores, has completed the sale of its interest in the Gosling Building to The Oxford Science Park (Properties) Limited (TOSP) for £42.5 million.

On completion of the sale, TOSP will immediately grant Oxford Nanopore an occupational lease of the Property for 10 years; at a rent of £1.8 million per annum.

Tim Cowper, Chief Financial Officer of Oxford Nanopore, said: "We are pleased to have agreed the sale and leaseback of our headquarters building. The proceeds will be used for continued development of our core business."

Oxford Nanopore moved into The Gosling Building in 2018.

In March, the company reported revenues up 17 per cent to £133.7 million.

The Oxford-based firm’s Life Science Research Tools enjoyed 94 per cent revenue growth to £127 million. Covid testing revenue, though, slumped from £48.3 million in 2020 to £6.7 million in 2021.

The firm’s net loss widened to £167.6 million from £61.2 million.

https://www.businessinnovationmag.co.uk/revenues-at-oxford-nanopore-technologies-up-17-per-cent/

In March, the Investors Chronicle explained that part of the latest loss at the cash profits level was driven by one-off IPO costs and £37.6 million of share-based incentive payments to the executives. It added that the balance sheet looked well capitalised with £618 million of liquid resources.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.