Client story

How a joint venture deal was agreed for an Oxford science and business park

When Hermes IM were looking for a joint venture partner they turned to JLL to put them in touch with an investor with the same asset growth aspirations

  • JLL Capital Markets


United Kingdom



Oxford’s Milton Park is one of the UK’s premier science and business parks. We were tasked with finding owner, Hermes IM, a partner willing to enter into a joint venture, focussed on asset growth.

How we worked together

Recognising it was vital to find our client an investor with similar long-term objectives, we worked together to find the right solution.

We have advised on many business park deals and were able to use our in-depth knowledge of this asset type, together with our global market insights to advise Hermes IM.

It was important to put in place a 50/50 joint venture that offered long-term mutual benefit and the opportunity to grow the asset in future.

Our investment and corporate finance teams adopted a dedicated approach to bring the Oxford business park deal to conclusion. 


The result was a 50/50 joint venture with Canada Pension Plan Investment Board for circa £250m. 

Right partner,
right results

Looking for help with your business rate valuations? Let us help.

Related client stories