News
Albion Land Buys Prime M40 Development Land at Banbury
M40 specialist Albion Land completed one of the first speculative land purchases since the downturn.
Kennet Properties has sold 13 acres of their 50 acre Origin site at Banbury, which fronts the M40, close to Junction 11, for £3m. The site offers occupiers a high level of prominence, is ready for immediate bespoke development of units up to 220,000 sq ft and benefits from planning consent for B1(c), B2 and B8 uses. It is particularly suitable for a high profile HQ facility or large distribution unit.
It is estimated that the site and its development will create up to 450 jobs for the area.
Albion Land, one of the most active developers along the M40, is proposing to build a new industrial/warehouse scheme, to occupiers' requirements for units available from 50,000 - 220,000 sq ft on the site to be known as Network M40. Larger requirements up to 550,000 sq ft can also be accommodated when combined with the adjoining Phase II land.
Simon Parsons, Director of Albion Land says "Albion Land are delighted to have purchased such a strategic site along the M40 in Banbury. This is one of the few locations between London and Birmingham able to accommodate a large footprint. Initial occupier interest is encouraging and we look forward to an early development start."
Albion Land are well known for their modern, high quality, industrial schemes in the area and have developed sites in Oxford, Bicester, Buckingham, Banbury and Brackley.
Chris White, Managing Director of White Commercial who act for Kennet Properties says, "This is an excellent development site due to its location on the M40 and ability to cater for large buildings. We already have 2 parties expressing interest in over 300,000 sq ft of manufacturing space on Network M40 and the Origin site.
White Commercial and King Sturge acted for Kennet Properties in the disposal and have been retained by Albion Land as Joint Agents. The purchase is one of the first meaningful land development deals since the recession started.
