The last available building on Lawrence’s once-thriving Oread Inc. campus was sold Friday in bankruptcy court to a group of Lawrence and Topeka investors who hope it will boost their plans for a new life sciences business park.

The U.S. Bankruptcy Court in Topeka approved the $900,000 sale of a small-scale pharmaceutical production facility near 15th Street and Wakarusa Drive to New Oread Group LLC. The building previously was the bulk active pilot plant for Oread, which closed its doors and declared bankruptcy in February 2001.

Lawrence investor Sam Campbell, a member of New Oread Group, said the building and the high-tech pharmaceutical equipment that came with it will play a major role in the group’s plans to establish a niche business park. The company already owns 17 acres of land south and west of the former Oread campus. The group plans to use the park to house bio-tech companies and others involved in the life sciences industry.

Campbell said the group, which also includes Topeka investors Jack McGivern, Jim Parrish and Kathleen Urbom, was in discussions with possible users for the facility but declined to discuss any details.

“We have a number of options we are pursuing right now and they are all very positive,” Campbell said. “They all will help us toward our strategy of establishing Lawrence as the western edge of Kansas City’s life sciences movement.”

The New Oread Group was the only company to submit a bid for the property. Campbell said he was “very pleased” with the $900,000 price, considering the building and its equipment once were valued at $12 million.

The building was designed to be used for the production of small quantities of active ingredients for pharmaceuticals under development.

Oread’s other main building on the campus is now owned by Kansas University and is being used for bio-sciences research and office space.

Attempts to reach an attorney representing the trustees of the bankrupt Oread were unsuccessful.