Mace has taken a 50% stake in Doric Properties to form a new partnership to deliver the comprehensive regeneration of Botley district centre in Oxfordshire.

The £100 million+ regeneration proposals will see the redevelopment of the existing 1960s shopping precinct with a modern centre designed to serve the next generation of residents. The proposals include a supermarket, a small Cine World cinema, a hotel, restaurants and cafés, 525 student bedrooms, community spaces, and a Baptist Church - all arranged around a new public pedestrianized space and provision for a large car park under a podium.

The decision to join forces highlights the partnership's commitment to delivering a high quality regeneration, which will transform the area and create several hundred new jobs. The partnership combines Mace's expertise as an investor, international consultancy and contractor, as well as its local experience in the area, with Doric's exciting vision for the future of Botley. Under the terms of the deal, Mace has become a joint venture partner and shareholder in Doric Properties.

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Mace's strong track record in Oxford started with its appointment by University of Oxford in 2002. Since then Mace has delivered complex schemes in sensitive locations, including Oxfordshire County Council's Central Offices, the Saïd Business School, the New Bodleian Library and the Ashmolean Museum. Mace has also been involved in the delivery of a number of town centre regeneration projects across the country ranging from strategic advice to construction services. In parallel Mace have been involved in the delivery of over 20,000 student beds as developer, project manager and contractor and has established a wealth of experience and is recognised as a market leader in the sector.

By way of example of their student capability Mace has recently completed and fully let a 346 bed, high quality, direct-let student campus scheme in Aldgate, London, and is in the process of completing an equally high quality 320 unit scheme for Edinburgh University. Mace's involvement in the Botley scheme will ensure that the proposed student accommodation will be delivered to the best in class standards in both development and long term management.

Stephen Pycroft, Executive Chairman of Mace, said: "We've always taken a partnership approach and we're absolutely delighted to have partnered with Doric Properties to help deliver their proposals which will revitalise Botley."

David Grover the COO of Mace Investments said: "The proposals will create a fantastic new district centre, bringing together a large supermarket, leisure opportunities and community functions to serve the west of Oxford community.

"Mace has a strong track record in Oxford stemming back to our work with the University of Oxford and we are keen to extend our success by bringing our investment, development consultancy and construction expertise to Doric's proposals. We're already working closely with Doric's team on the details of the Environmental Impact Assessment and the construction and phasing and we believe that we have already made some very positive progress and are confident that we can bring forward further enhancements."

(CD)