A planning application is expected next month for a rare development of 17,000 sq ft of offices and 3,500 sq ft of retail in Oxford City Centre.
The £9.75 million development of a city council-owned site of two buildings at 1-5 George Street is expected to be submitted by the end of June.
The centre of Oxford has long had a shortage of available sites for new schemes but the council decided on demolition and redevelopment rather than refurbishment of the buildings, to ensure a denser use of the site.
Ian Gray, Oxford City Council’s interim regeneration and economy programme director, said: “There is a lack of quality office accommodation in the city centre, so this scheme format has considerable benefits in providing central office accommodation for businesses wanting to remain in a central location and potentially for attracting new businesses into the area.
“This regeneration project also represents good value for money as the completed development should greatly improve the council’s revenues. But above all, the provision of Grade A office accommodation in the heart of the city is a major consideration.”
Source: Thames Valley Property (tvproperty.co.uk)
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