An Oxford college has taken full ownership of a city science and technology park with a view to expanding the site in the next ten years.

Magdalen College plan to increase the office space at Oxford Science Park by 40 per cent by 2025 and it said the future could include a 4,000-home community called South Oxford Garden Neighbourhood south of the site.

It also fully supported the potential future extension of the Oxford to London Marylebone rail line on the Cowley branch line which could see a new station at the park.

College bursar Rory Maw said the acquisition would give the college more flexibility in the future.

He said: "The acquisition represents the start of an exciting new phase in The Oxford Science Park's development.

"It is a clear statement of the College's intent to support the growth of Oxford's thriving community of science and technology businesses and, by taking 100 per cent ownership, we will have the flexibility to explore new ways of working together.

"The Park is the natural location for new spin-outs from Oxford's world-leading research facilities, as well as established businesses looking to grow."

The science park in Littlemore was set up in 1991 as a joint venture between the college and M&G Real Estate to deliver offices and laboratories for science and technology companies.

Over the past 15 years more than 450,000 sq ft of space has been built and more than 60 companies and 2,400 people have been employed at the site.

The college announced it bought out M&G Real Estate's half for just over £18m and outlined its plan for a further 300,000 sq ft of space on the remaining 13 acres by 2025.

A mixture of computer hardware, bioscience, telecommunications and environmental science companies currently make up the site, including Amey, IBM, Oxford Nanopore, Sharp Laboratories and TripAdvisor.