Clearbell has purchased the Banbury Cross logistics scheme off junction 11 of the M40.
The company will appoint First Industrial as development manager of the scheme, its eighth logistics and distribution purchase, and will invest £17m to speculatively build sheds of 110,000 sq ft and 168,000 sq ft at the site.
The scheme is expected to gain planning consent this month.
First Industrial has already delivered a 235,000 sq ft building at Banbury Cross, for which toy retailer The Entertainer signed a lease last year.
Clearbell partner Nick Berry said: “This is our second scheme with First Industrial, and we are really looking forward to seeing steels coming out of the ground in an ideal logistics location that has been undersupplied with high-quality buildings for too long.”
Development is expected to begin in July and complete in May 2016.
