Aver Property Partnership, a joint venture company between Ergo Real Estate and NFU Mutual is spending in excess of £24 million on the development of a new distribution and manufacturing park at Bicester, Oxfordshire, known as Axis Junction 9 (www.axisj9.co.uk). The new units will be available for occupation by tenants in September 2020.
The development provides modern specification logistics and production space across five buildings, three of which sit in their own self-contained sites, ranging in size from 23,000 sq ft to 64,000 sq ft totalling 200,000 sq ft. Amongst the green credentials for the site are the photovoltaic panels which have been installed to the roof area of each unit to supplement the energy use in each building to satisfy the zero carbon planning requirement.
The development is situated close to Bicester Village, Bicester Park and ride and Oxford just off Junction 9 of the M40, and will provide around 1,200 jobs.
Leigh Burnett of Ergo Real Estate said: “Bicester’s excellent location on the London to Birmingham M40 route and being close to Oxford is driving substantial expansion in the region. Our investment in this development will provide quality buildings for companies needing high spec distribution and manufacturing space with significant combined rent and business rates savings compared to similar south east buildings.”
James Haestier, Director in Colliers International’s Industrial and Logistics team added: “This is an excellent development along the M40 London to Birmingham Corridor which has a severe shortage of modern production and warehousing accommodation of this size. We have a good deal of interest from companies regionally and nationally and hope to be announcing our first tenant shortly.”
Colliers International, White Commercial, and VSL are providing leasing advice.