Speculative unit at Banbury goes to Arrival

The deal eats into the already tight supply of M40 corridor warehouse space.

Arrival Ltd has signed a 15-year lease to support its ongoing expansion plans in the region. The letting means just one 144,800 sq ft unit remains available for lease at the site close to junction 11 of the M40 developed by Tritax Symmetry.

Both buildings, which are being constructed by A&H Construction, have been built to net zero carbon in construction and benefit from 15 metre eaves height, twin service yards, 50kN/2 floor loading, 25% roof coverage solar power and have a BREEAM “Very Good” Rating.

The 70-acre Central M40, Banbury scheme has detailed planning consent for a total of 1.3 million sq ft of industrial and warehouse accommodation.

The scheme is home to third party logistics provider, Great Bear Distribution (335,000 sq ft); British baking firm Warburtons (83,750 sq ft); Integrated supply chain solution specialist, TVS SCS (95,000 sq ft); Online homeware retailer, Rinkit (78,000 sq ft); Meal-kit subscription delivery service, Hello Fresh (237,000 sq ft) and world leading motorsport and advanced technology business, Prodrive (114,000 sq ft).

Burbage Realty, CBRE and Colliers are joint agents for CM40 Banbury.

Tom Barton from VSL & Partners advised Arrival Ltd.