Goodman lets former office to Oxford Fertility Unit on 15-year...

Goodman lets former office to Oxford Fertility Unit on 15-year lease

The Goodman Group has leased market research company AC Nielsen’s redundant offices on Oxford Business Park to the Oxford Fertility Unit.

The unit will relocate from John Radcliffe Hospital in Headington to the business park in Cowley.

Under the agreement, completed on 6 April, Goodman granted the unit a 15-year lease with a year rent free at £22.50/sq ft on the 22,134 sq ft Building 8000, which is on the roundabout near the park’s Garsington Road entrance.

There is a break clause at year six, but this is unlikely to be exercised because of the expense of converting the office into a clinic where patients receive fertility treatment. There will be no overnight stays.

The unit’s director, Enda McVeigh, said the new Institute of Reproductive Science would be housed in the building. ‘This new premises will provide a workplace for our research and clinical team, as well as teaching facilities for our postgraduate students,’ she said.

The unit, which has a worldwide reputation for treating and researching infertility, was so cautious about being allowed to use a former office as a clinic and laboratory that it obtained a certificate of lawful use from Oxford City Council. Goodman, however, was always confident that the change of use was permissible.

Goodman’s development director, James Raven, explained: ‘The unit wanted a more friendly environment. While they were in the John Radcliffe Hospital, people found it a bit intimidating.’

Raven added: ‘AC Nielsen had some time left on their lease, but we took a surrender to show what nice flexible landlords we are.’

The park, near the A34 and the M40, was developed by Arlington Securities, and is now held within a fund managed by Goodman and Legal & General.

The unit, which is private and non-profit making, is the first clinic on the park – although last year, Goodman let 3,765 sq ft to Glenmark Pharmaceuticals and 3,634 sq ft to Cancer Research.

Carter Jonas Commercial acted for Oxford Fertility Unit; Strutt & Parker acted for Goodman.