Housing Deal Agreed by L&G and Oxford University

A deal involving postgraduate housing has been agreed upon by Legal & General Capital (LGC) and Oxford University as part of a $4bn partnership. The partnership, which began three years ago, created Oxford University Development (OUD) with the vision of providing thousands of beds for both staff and students as well as other academic facilities.

Located in Iffley, Oxfordshire, the first development set for construction aims to provide 84 homes for families in the area.

The development, named Court Place Gardens, is expected for completion in time for the 2024/25 academic year. A spokesperson for the scheme commented on the build stating it will "help accelerate Oxford's potential by creating more affordable, high-quality accommodation, enabling the university to retain and attract more talent to the city".

Chief executive of Oxford University Development, Anna Strongman, commented: "This is a fantastic milestone for the partnership and OUD as we see the first of our residential schemes be developed. We are proud of the high-quality design that responds to the beautiful landscape of the site and the sustainable merits of the scheme, such as its fossil fuel-free nature."

Senior development manager at Legal & General, Mike Coplowe, added: "The development of Court Place Gardens marks the start of our residential ambitions with Oxford University, which is an essential first step towards creating more modern, affordable and sustainable accommodation for the university."