Business booms after Oxfam exit

Anita Pati

Oxfam's move away from a wealthy Oxford suburb after 40 years has regenerated business in the city, according to local traders.

Since the charity moved to an industrial park in September last year, businesses and a school have rushed in to buy the charity's properties in Oxford's salubrious Summertown area.

Oxfam owned eight buildings on one street, two of which have just been sold for a total of £3.5m.

"Summertown's office market was dominated by Oxfam," said Richard Venables of VSL & Partners, the property agent that handled Oxfam's move. "Its relocation has opened up opportunities for accommodation and good quality offices."

Paul Briggs, chief executive of the Thames Valley Chamber of Commerce, said: "Oxfam's departure can now provide opportunities for other businesses."

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