Tritax Symmetry has agreed terms with British electric vehicle manufacturer Arrival on a 198,750 sq ft speculatively developed unit at Central M40 Banbury.
Arrival Ltd has signed a 15-year lease to support its ongoing expansion plans in the region. The letting means just one 144,800 sq ft unit remains available for lease.
Both buildings, which are being constructed by A&H Construction, have been built to net zero carbon in construction and benefit from 15 metre eaves height, twin service yards, 50kN/2 floor loading, 25% roof coverage solar power and have a BREEAM “Very Good” Rating.
Situated on the M40 at Junction 11, the Central M40, Banbury scheme extends to a total of 70 acres and benefits from detailed planning consent for a total of 1.3 million sq ft of industrial and warehouse accommodation. The scheme 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).
Speaking about the deal, Joseph Skinner, associate development director at Tritax Symmetry, commented: “This deal has cemented Central M40’s position as the region’s leading business destination. Arrival is a major employer in the Oxfordshire area and this, together with their strong green credentials, makes it an excellent addition to our customer portfolio.”
Burbage Realty, CBRE and Colliers are joint agents for CM40 Banbury.
Tom Barton from VSL & Partners advised Arrival Ltd.
Tritax Symmetry is the dedicated logistics developer of Tritax Big Box REIT plc (TBBR).
