People & Engagement Associate

The rise of owner occupiers in the regional office market. 03 July 2026 Market conditions are driving a rise in office owner-occupiers across the UK. Office investment activity across the UK's regional cities is evolving, with owner occupiers emerging as an increasingly influential buyer group. Historically, owner occupiers represented a relatively small segment of the purchaser market; however, changing market conditions and pricing dynamics have accelerated this trend significantly over the last 18 months. Falling capital values are creating acquisition opportunities. According to MSCI, regional office values have decreased by 39% since 2019, creating an opportunity for occupiers to acquire assets at discounted pricing levels. For a growing number of businesses, this shift has presented the chance not only to secure long-term occupational control, but also to strengthen the opportunity for strategic property ownership. This trend is now clearly reflected in investment activity: owner occupiers were the most active investor group in 2025, accounting for 35% of total regional office investment volumes. Momentum has continued into 2026, with owner occupiers representing 30% of investment activity up to the end of May 2026. Major occupiers are increasingly acquiring their own buildings Several high-profile transactions demonstrate the growing confidence of occupiers in acquiring their own real estate. In Manchester, Bank of New York Mellon acquired its headquarters at 4 Angel Square in NOMA for £114 million, having previously occupied the building as a tenant. In Bristol, Lloyds Bank acquired 10 Canons Way for £65 million, reflecting a net initial yield of 8.2%. Other notable occupiers including Adanola, Crew Clothing and Princes Group have also acquired their office buildings as part of longer-term operational strategies in the last 18 months. The trend is not limited to traditional office occupiers. In Oxford, science and innovation-led businesses have also been active: the Ellison Institute has acquired several sites to support its future requirements and ProImmune previously acquired an entire business park for owner occupation purposes. Although these examples are more science and laboratory focused, they reflect the broader shift towards businesses seeking greater control over their real estate. Rental growth is changing the occupational equation. One of the key drivers behind this trend is the scale of rental growth across the UK's major regional office markets. Prime office rents across the Big Six regional cities have increased by an average of 29% over the last five years, materially increasing occupational costs for businesses considering relocation or lease renewal. While many occupiers remain willing to pay premium rents for best-in-class space, acquiring a headquarters building can provide longer-term cost certainty and protection against future rental inflation. In addition, many occupiers recognise the potential for future yield compression over the medium to long term, creating opportunities for value appreciation. A structural shift in occupier behaviour. The increase in owner occupier activity reflects more than opportunistic acquisitions, it signals a broader shift in how businesses are approaching occupational strategy, capital allocation and long-term operational resilience. As market conditions continue to evolve, owner occupation is likely to remain an increasingly important feature of the regional office investment landscape, particularly amongst businesses seeking greater control, cost certainty and strategic flexibility.

Wild Bioscience, a University of Oxford spinout developing climate-resilient crops, has expanded its operations at Milton Park following a £45 million Series A investment led by the Ellison Institute of Technology. Oxford Science Enterprises, Braavos and the University of Oxford provided continued support. The company has increased its footprint by 4,560 square feet to total 16,000 square feet, including new laboratory and office space. The expansion has enabled Wild Bioscience to triple its plant output within months, with particular focus on precision-bred wheat. The 40-person company has strengthened its leadership team with two senior appointments: Lisa Flashner, EIT's chief operating officer, joins as non-executive director, whilst Dr Stuart Harrison becomes chief business officer after 24 years at Syngenta. Wild Bioscience uses AI-driven modelling to identify traits from wild plant species for developing climate-resistant crops.

Ellison Institute of Technology unveils designs for Oxford Science Park. 24th March 2026 New designs for buildings in Oxford Science Park were revealed last month, drafted by Foster + Partners and funded by the Ellison Institute of Technology (EIT). The designs are part of The Daubeny Project, which involves the construction of three new buildings with "enhanced lab infrastructure designed to support cutting-edge research", including over 70% of space on each floor available for laboratories. EIT owns the buildings, with revisions to the initial three building designs lodged in February. These designs reduce the number of parking spaces available to the buildings, outline plans for a Generative Biology Institute (GBI) and a Plant Biology Institute (PBI), and include atria to connect the structures of The Daubeny Project. The first of the three spaces of The Daubeny Project had a "topping out" in April of 2025, which is usually when the tallest part of the structure is added. The Project was scheduled for completion in 2026, although it is unclear how the revisions affect those plans. Oxford Science Park, located southeast of Oxford in Littlemore, is primarily owned by Magdalen College. It is a growing research area for almost 100 firms interested in STEM. The Park employs over 3,000 people, with 250,000 square feet of building development underway. Foster + Partners, the architectural firm involved in this project and in EIT's campus, designs a wide range of buildings internationally, including office parks and airports. A spokesperson for EIT told Cherwell: "Foster + Partners has been a trusted, long-term and integral partner in the design of EIT's master plan vision of a campus built for impact. EIT sought [Foster + Partners'] engagement for GBI & PBI because EIT knew they could deliver a unique and thoughtful design. They've thoroughly engaged with GBI & PBI to understand their requirements, and EIT very much look forward to executing this vision." EIT also owns land on the western section of the park, which it has allotted to its own campus. It includes both new and pre-existing buildings, some of which are already under construction. It will include teaching, meeting, clinical, and laboratory spaces. Event spaces include "a 250-seat auditorium" at Littlemore House (one of the originally existing structures) and "a wooden geodesic dome, with rotating solar shading" in a new structure. The campus is also "targeting BREEAM Outstanding and WELL Platinum accreditation". A "topping out" ceremony for Littlemore House was celebrated earlier in February. EIT's Senior Director of Real Estate Matt Abney stated: "From the very beginning, EIT's Oxford campus has been far more than just creating a functional space. It is being built as the future home for exceptional minds across the science, technology, and engineering disciplines - and as a catalyst for meaningful innovation." The EIT press office told Cherwell that the EIT campus buildings are set to be in use in 2027. While funding from the institute was restructured and reduced last fall, EIT's construction projects appear to continue. EIT's Global President is Santa Ono, now a senior research fellow at Worcester College. Foster + Partners has been approached for comment. 20th March 2026 4th March 2026 11th March 2026 4th March 2026 8th March 2026