Internet company Nominet, which registers .uk websites, hopes to move into new headquarters at Oxford Science Park next spring. Nominet bought a 1.5-acre plot of land and the building is constructed by the science park, a joint venture between Magdalen College and Prudential. The price was not disclosed.

Architects Nicholas Hare submitted a planning application last August for the building, which will occupy a prime position on the Park overlooking the lake.

The new building will enable Nominet to consolidate its 130-strong, highly skilled, technical workforce - many of whom are involved in research and development activities and currently split across two sites.

"Nominet has spent nine years in its current location, experiencing tremendous growth and success during that time," said Lesley Cowley, chief executive at Nominet.

"As we move into a new era for the organisation, with a new chairman and a revitalised strategic mission, we are looking forward to an exciting future for the company. Our new office building at Oxford Science Park is part of this renewed vigour and will provide us with a foundation for growth as we put our plans into action."

This build-to-suit' arrangement is popular with the increasing number of businesses wanting to own their own buildings, according to Prudential's Jane Holliday.

She said: "We've worked closely with Nominet on the design and have been able to tailor the building to best suit their operations."

Among the company's particular requests was a displacement ventilation system, which is greener' than a conventional air conditioning system.

Charles Young, of Magdalen College, said Nominet was also attracted by the quality of the environment and chose the Oxford Science Park against stiff competition.

Piers Leigh of King Sturge added: "Nominet had the choice of several high-quality office schemes located on the outskirts of Oxford. However, The Oxford Science Park fitted both their their vision of creating a spacious, modern and attractively landscaped business environment for its staff."