The investment entity behind the proposed Snowsfields Quarter project, Guy’s & St Thomas’ Foundation, selected global real estate investor and developer Oxford Properties and Reef Group as its development partners. The design team will also include Reef’s in-house design studio UrbanR. Oxford and Reef will invest approximately £350 million ($430 million) towards the 300,000-square-foot project that will feature commercially-available lab facilities across three new buildings.
Snowsfields Quarter will play a key role in forming the required real estate infrastructure to support the area’s emerging SC1 Life Science and Innovation District, a new health innovation cluster. The sale of a long-term leasehold of the site to Oxford Properties will complete once planning permission for the project has been secured.