Puma provides £21m loan to convert prominent Oxford site for life sciences

Greyarc, a private investor, has secured a £21 million loan from Puma Property Finance to fund its acquisition of an 88,000 sq ft office building at Oxford Business Park.

The space, known as Building 2700, is a prominent self-contained building, set over a ground and two upper floors with a full height atrium.

Currently let to Oxfam and serving as the charity’s headquarters, the building is now set to undergo an extensive conversion by new owners Greyarc into a life sciences lab and office facility.

It will feature large, customisable floor plates to allow for flexibility in laboratory configurations, from serviced incubator facilities all the way through to a single-let opportunity.

Oxford Business Park is now part of the ARC Group, established by investment firm Brookfield in 2022. 

The life science and biotech industry has grown significantly in recent years, with Oxford firmly established among the world’s leading life sciences clusters given the significant demand from Oxford University spinout companies.

Kevin Davidson, managing director of Puma Property Finance, said: “We’re delighted to be undertaking our first financing with Greyarc Investments in what is an exciting move for us into the life sciences sector.

“Oxford has an unparalleled track record for supporting the growth of life sciences businesses.

“The team at Greyarc Investments have strong knowledge of the Oxford market, having previously developed the Oxford Technology Park.

“The comprehensive refurbishment of the property we’re funding will have strong appeal to both existing life science companies and those spinning out of the university, while delivering a positive environmental impact.”

Puma anticipates a follow-up loan facility to fund the conversion and refurbishment of the building in 2025. The loan was brokered by Bircroft Private.

Mark Selwood, principal at Bircroft Private, added: “We’re delighted to have facilitated this transaction with Puma on behalf of Greyarc Investments.

“Due to the timing constraints involved it was imperative we introduced not only a competitive lender but one who could be relied upon to deliver within the timeframe.

“Puma engaged with us alongside a carefully selected team of professionals to ensure the debt facility was provided within four weeks of first meeting.

“A great team effort to deliver an exciting opportunity.”