London-Birmingham M40 proving attractive for companies looking to expand & relocate in Central England
The Oxfordshire industrial property market in 2018 saw occupiers take over 1.7 million sq ft (157,934 sq m) of warehouse/industrial accommodation, the highest industrial take-up in a decade and 41% above the average for the previous seven years! A recent government report of the new Oxbridge Corridor stated that the region’s attraction is based on the fact that the area is a hugely valuable asset to the UK, ‘with its businesses and technology clusters having a global reputation competing on the world stage.’
White Commercial’s recent research suggests that there are currently Industrial and warehousing requirements from companies looking in the Cherwell District for over 3.25 million sq ft (circa 302,000 sq m) of accommodation. White Commercials research also confirmed that over 52% of the companies looking in Oxfordshire require units between 10,000 and 30,000 sq ft) with practically all the new industrial/warehousing developments are producing buildings in excess of 70,000 sq ft (6,503 sq m). This suggests that there is a significant shortfall in the development of smaller industrial units in the region, which are currently more expensive to build than their larger counterparts and remain commercially unviable for developers to build.
White Commercial however are dealing with a number of new smaller industrial and warehousing schemes built by Albion Land www.albionland.co.uk, whose developments at Arrow Park in Brackley www.arrowparkbrackley.co.uk, Link 9 in Bicester www.link9.co.uk, and Axis Junction 9 Bicester www.axisJ9.co.uk are all proving popular with industrial and warehouse occupiers requiring more modern industrial /warehouse facilities.