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Joint venture to build new development in Bicester

A new mid-box M40 warehouse development is to be built at Bicester after investors agreed a £24 million funding package.

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.

The Axis development at junction 9 of the M40 motorway will include five units totalling 200,000 sq ft. The new units will be available for occupation in September.

James Haestier, Director in Colliers International’s Industrial and Logistics team, said: “The M40 London to Birmingham Corridor 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 letting agents.

 

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