Science Park: Staff Homes and Laboratory Facilities

science park: The staff homes, which will include one- and two-bedroom apartments as well as some houses, will be rented out at a 20% discount to market prices, mainly to junior academic and support staff earning less than 40,000 a year, according to The Guardian. They will be located next to new research and laboratory facilities at a vastly expanded science park in Begbroke, north of Oxford. The insurance and pensions group will build 1,000 subsidised homes for university and college workers, 1,000 homes for research graduates and a further 1,000 for general sale or rent, on land provided by the university, in the first wave of the partnership. A second science park and graduate housing are planned for the Osney Mead industrial estate. The university, which employs 20,000 people, will retain ownership of the land and issue 60-year leases to L&G. The company's Future Cities business will fund the buildings and receive rent, but will eventually hand the properties to the university. Rents will be pegged to student rents at other university and college accommodation, which range from 450 a month to 675 for a newly built ensuite room. (news.financializer.com). As reported in the news.