Architect drawing up plan for address in St James鈥檚 Square

The company behind a huge cancer research facility in Oxford being built by Laing O鈥橰ourke has brought in Foster & Partners to design its new headquarters in London.

The Ellison Institute of Technology (EIT), which was set up by US billionaire Larry Ellison, is masterminding a 拢300m cancer research facility in the university city that has been designed by Fosters.

The scheme, called the Ellison Institute for Transformative Medicine, consists of a complex of buildings spread across two sites and linked by a 250m-long elevated timber walkway.

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Larry Ellison pictured at last month鈥檚 British Grand Prix

Now the EIT has bought a building in St James鈥� Square in the upmarket Piccadilly area of the capital which is set to be its base in London.

A spokesperson said: 鈥淭he address [at St James鈥檚 Square] has been purchased by EIT. Foster & Partners, along with Ridge, are currently engaged in refurbishing it as our London office. We don鈥檛 have anything further to add at this time.鈥�

Ellison, who is co-founder of the US tech giant Oracle Corporation and who attended US President Trump鈥檚 inauguration in January, is the world鈥檚 second wealthiest person, according to Bloomberg, with a net worth of $257bn (拢194bn).