An Oxford science network has secured planning permission to demolish seven buildings to make way for a new facility for the science, technology and innovation sector.

Advanced Research Clusters (ARC) Oxford is set to develop 'Ascent', a building which is estimated to create around 500 jobs and contribute £38 million annually to the economy.

The new 105,000 sq. ft development will have a rooftop lounge, wellness spaces, and gym, and will be home to leading science and technology companies.

Construction is expected to start later this year.

Ascent will surpass Oxford city's sustainable policies with a BREEAM Excellent rating and deliver a 40 per cent reduction in operational carbon emissions compared to current building regulations.

The structure will also achieve Fitwel certification, meaning it will be enhanced to support the wellbeing and health of its occupants.

ARC Oxford's director of asset management, Dan Williams, said: "We're delighted to have secured planning permission for Ascent.

"This transformational project designed from the ground will provide a new home for businesses of all types including leading science and tech organisations.

“This latest development at ARC Oxford further supports our mission in attracting world class talent, driving economic growth, and fostering continuous support for the innovation ecosystem in the city.”

ARC Oxford is part of ARC’s network of clusters, including Harwell Science.

In 2023 ARC’s Oxfordshire campuses accounted for more than half of all laboratory market take up across the county.