Electric vehicle firm Arrival has expended to take the last remaining space at the CM40 logistics park in Banbury – triggering calls for more space to be freed up for business use along the M40 corridor.
Arrival took 198,750 sq ft in October last year and has since taken the decision to take another two units totalling 145,426 sq ft as part of its ongoing expansion. Both deals were agreed on 15-year leases.
A&H Construction has delivered both buildings to net-zero carbon in construction. The units offer 15-metre eaves height, twin service yards, 50kN/2 floor loading, 25 per cent roof coverage solar power and have a BREEAM “Very Good” Rating.
Joseph Skinner, associate development director at Tritax Symmetry, said: “We have seen unprecedented demand for prime, sustainable logistics space in this area of Oxfordshire.
“Most of these units were pre-let or let prior to practical completion and, as we stand today, there is currently a severe shortage of allocated land available to accommodate new requirements.
“We have successfully secured 1.3 million sq ft for a wide range of occupiers, from start-ups and third-party logistics providers to automotive and online retail and are proud to have played a significant role in bringing these businesses to the area and establishing the M40 corridor as a major business destination.”
Situated on the M40 at Junction 11, CM40 Banbury 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.