Morrison Foerster has advised Pioneer Group (Pioneer), an owner and operator of life sciences and high-tech campuses and ecosystems, and Oxford Properties Group (Oxford), a global real estate investor, asset manager and developer, on their joint venture to convert Victoria House in Bloomsbury Square, central London, into a state-of-the-art life sciences hub.
Oxford and Pioneer plan to convert the Grade-II listed Victoria House into a 300,000 square foot wet lab-enabled life sciences space, with works expected to be completed in Autumn 2024.
Morrison Foerster advised Pioneer on its joint venture arrangements with Oxford, including the asset and development management agreement for the property. The deal team was led by London partner Oliver s’Jacob, with support from associate Tom Hutchinson, both members of Morrison Foerster’s market-leading Private Equity Real Estate team.