Joint venture partners, db symmetry and British Airways Pension Fund, have announced the completion of its latest phase of development at Central M40 in Banbury.
Main contractor A&H has completed a 330,000 sq ft high-quality logistics facility, which incorporates a series of features including 10,000 sq ft office space, 15m clear internal height, 30 dock levellers, four level access doors and 50m yard depth within a secure gated and fenced area.
The news follows on from two highly successful earlier phases at Central M40. Phase two saw the speculative development and letting of both unit 7 (95,000 sq ft) to TVS SCS and unit 8 (78,117 sq ft) to Rinkit. Phase one was built and subsequently let to Hello Fresh (236,580 sq ft) and Prodrive (114,000 sq ft).
Harry Sadleir, development director at db symmetry, commented: “Reaching practical completion four weeks ahead of schedule is a fantastic achievement and allows us to bring forward the final phase of land for development. We have full planning consent for up to 198,500 sq ft on the land which sits next to this newly finished unit, enabling us to bring forward the space forward quickly to suit the occupier’s requirements.”
Speaking about the completion of this latest phase, Simon Norton, director at Colliers International, joint agents for the scheme with Burbage Realty and CBRE, continued: “The joint venture has once again succeeded in creating a high quality, energy-efficient building which will appeal to occupiers akin to those which already operate from here. We have continued interest in the building and we are confident the pent-up demand for this type of product will result in a future deal.”