London & Metropolitan have bought a 66-acre site at Bicester, close to the Oxford junction of the new M40, and are planning to develop 700,000 sq ft of warehousing and industrial space.
The site is on the route of the new Bicester bypass which connects the A41 Aylesbury Road and the town to the M40. There are already planning consents for B1, B2 and B8 uses and L&M are hoping to start construction by the end of the year.
No price is being disclosed, but the developers are believed to have paid in excess of £300,000 per developable acre. The vendors of the site were two private individuals who were represented by Brown & Mumford and Anthony Ricketts. Chesterton are advising the developers.
L&M’s Steve Davies said that the land is “the only major site suitable for large distribution warehousing along the new motorway route between London and the area south of Birmingham”.
