From Discworld & Terry Pratchett Wiki
A recent development of the Unreal Estate which serves to earn money for the University by selling commercially useful by-products of research magic. It is so new that the modern flat-roofed buildings, winners of several awards from the Guild of Architects, haven't begun to let in water, nor shed window panes in a breeze. An attempt has been made to pretty the place up by landscaping and planting trees, but this is spoilt by the fact that many of the trees have walked away to find less magically-charged ground to plant their roots in, and in any case a lot of the grass is vividly coloured in any shade but green.
Archchancellor Ridcully formally opened the Park with a speech about the marriage between magic and modern business. After all, the modern world doesn't need many magic swords and magic rings, but it does need some way to keep its appointments in order. Lot of garbage, really, but I suppose it keeps everyone happy. Is it time for that lunch yet?
It is possible that the University values the Park for more than just the money it undoubtedly earns. With an increasing number of graduate wizards having passed through the hands of Ponder Stibbons and the High Energy Magic Building, this is a way of keeping the clever, keen, young buggers productively employed, and which diverts their attentions into something useful, rather than for instance harbouring thoughts that one day, a wizard of the Stibbons inclination might become Archchancellor...
Senior wizards call all this sort of thing technomancy, and sleep better in their beds at night in the knowledge that Stibbons and the younger more energetic wizards are less likely to be sleeping in theirs.
A major fruit of thaumatological business is the Dis-organiser in its various marks. A new concept is the technomantic shaving device, where all the user has to do is to hold it up to his chin, and a tiny demon inside will trim every hair at very high speed with an exceptionally small pair of scissors. Samuel Vimes does not like this idea and has flatly refused to let Sybil buy him one. The external observer can see a situation where the next development will have two imps inside the shaver and the advertising line will be "shaves faster and closer than one!"