A company pioneering the drive towards driverless cars has expanded into a new base in Oxford city centre. FiveAI has taken 2,600 sq ft on the first floor of 59 St Aldates on a five-year lease after moving from a nearby building.
The rapidly growing firm has occupied the final space at the 58, 59, 60 St Aldates development which was recently refurbished by owners Vantage Asset Management, ensuring the character and original features were retained, with modern facilities sympathetically installed.
FiveAI was launched in 2016 by serial entrepreneur Stan Boland and is currently testing its driverless car technology in London after receiving the single largest investment into an artificial intelligence (AI) business from the UK government.
The property refurbishment of St Aldates was launched a year ago by owner Vantage Asset Management, completed this summer and is now fully let.
The three buildings totalling 32,796 sq ft were stripped back before being fitted with feature ceilings, LED lighting, new air conditioning and state of the art breakout areas to create modern Class A office space.
Duncan May, associate director at agents VSL, said: “This development is proof that creating ultra-modern office space with excellent facilities is the key to attracting the type of innovative, hi-tech companies that are powering the local economy and Five AI is an excellent example of that.
“The team at Vantage Asset Management have not only helped revitalise the city centre by transforming a tired building, they have created an inspirational workspace which will help trail blaze future development in Oxford.”
“In the last year, VSL has agreed lettings on eight suites totaling 11,322 sq ft. These units have been let to: Prime research, Oxford Computer Consultants, Exmile Solutions, Horus Security Consultancy and FiveAI.”
Robert Thain, director at Vantage Asset Management explains: “Our investment in the refurbishment of St Adlates has resulted in us driving rents forward, which is now leading the way in the Oxford city centre office market.”