A 288,000 sq ft speculative M40 motorway logistics development is to go ahead, following a funding deals.A 288,000 sq ft speculative M40 motorway logistics development is to go ahead, following a funding deals.
Investors RDI have agreed to the £26m forward-funding of two units on 13.5 acres at Bicester.
The deal with Albion Land means RDI will acquire two high quality distribution units of 120,000 sqft and 168,000 sqft respectively. The site is part of the successful Link 9 industrial and distribution development with good access to the M40 and backed by a strong occupier market.
Construction of phase 1 will commence immediately with an approximate eight-month development programme with phase 2 anticipated to commence before May 2019 with completion in late 2019. Albion say early stage discussions have already commenced with potential occupiers.