Avison Young appointed by UK Atomic Energy Authority (UKAEA) to advise on its property portfolio
Strategic real estate advisor, Avison Young has been appointed by the United Kingdom Atomic Energy Authority (UKAEA) to provide strategic investment and development consultancy focussing on the UKAEA’s Culham Campus, in Oxfordshire. Avison Young’s appointment will support the delivery of a new Framework Masterplan and enable UKAEA’s commercial ambitions to create a centre of international excellence in the fast-growing fusion sector.
Covering 80 hectares, and currently home to around 40 commercial tenants, Culham Campus is a key part of the Oxfordshire Knowledge Spine and is one of the largest employment centres in the county.
Culham Campus benefits from an existing cluster focused around UKAEA’s national fusion laboratory’s headquarters, combining world-class publicly funded fusion research with commercial research and technology capabilities, providing a global centre of innovation. The Campus is already home to numerous private sector companies allied to UKAEA’s fusion aspirations.
As part of Avison Young’s appointment, the firm will also advise UKAEA on the launch of its Hornbill Building, a premium R&D development asset scheduled for practical completion in June 2024. The building is at the centre of the UK’s Fusion & Technology Cluster and is in high demand, providing 69,191 sq ft of office space, and offers a 22,812 sq ft rig hall that can be rented as a whole or divided into smaller sections. The Hornbill Building is fully electric, targeting BREEAM “Excellent” and an “A” EPC Rating.
UKAEA is looking to support the ongoing development of Culham Campus with the appointment of a potential private sector delivery partner in 2024, a vision which will seek to keep the UK at the forefront of fusion energy sector and leads in its commercialisation efforts.
This partnership aims to secure UKAEA’s position as a world leader in fusion research and development, drive economic growth and high-tech jobs in the UK in fusion and related technologies, create places that accelerate innovation and develop skilled people for industry to thrive and enable the delivery of sustainable fusion power plants.
Laura Loftus, Director, Avison Young, said: “We are pleased to be supporting UKAEA with their property and delivery strategy, helping to fulfil UKAEA’s long term plan and vision within this unique industry.
“Our partnership with UKAEA showcases our capabilities in the science park sector and builds upon recent successes in the market. Furthermore, working with such an ambitious organisation at the forefront of R&D fully aligns with Avison Young’s ESG approach at a human scale to help create healthy, productive, prosperous spaces and places that deliver great benefit to the economy, the environment and the community.”
Tim Bestwick, Deputy CEO at UKAEA, said: “The redevelopment of Culham Campus is an important part of UKAEA’s objectives – it is becoming an international centre of innovation, scientific advancement and excellence, fostering collaboration in pursuit of a more sustainable future.”
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