UK real estate investment trust, RDI REIT Plc , listed on the London Stock Exchange, has invested £26 million into a new speculative development of two large warehouse buildings on a site of 13.5 acres at Albion Land’s development in Bicester, Oxfordshire.
Situated on a 40 acre site, Link 9 is a major new distribution, production and headquarters development which has already seen new buildings purchased by British Bakels (80,000 sq ft), Teknos (80,000 sq ft) and Oxford Safety.
Construction has started on the two new self-contained buildings comprising a 120,225 sq ft high quality distribution building ready for occupation in April 2019 and a further 168,000 sq ft unit which will be ready for occupation in November 2019. Link 9, on completion of the development, will provide a total of 530,000 sq ft of employment floor space and will provide over 1,000 new jobs.
Chris White, Managing Director, White Commercial Surveyors, said: “With the current lack of availability of larger high quality industrial units across the Midlands and South East of the country, we are already receiving a good level of interest for the two units. The site’s location in Bicester at junction 9 of the M40 is situated in a fast and expanding economy between Oxford, London and Birmingham. Bicester, being famous for Bicester Village which has
6,000,000 visitors each year, is experiencing substantial growth with a further 10,000 houses planned up until 2030, and has already seen significant improvement in its transport infrastructure – an ideal location for distribution businesses situated in the centre of England.”
Sarah Jones, Senior Asset Manager, RDI REIT, said: “ The acquisition of high quality distribution assets in Bicester, through a forward funding agreement, presents a clear opportunity to increase our exposure to a sector with strong structural support and rental growth prospects, at an attractive entry price.”