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The White Wire

Development and Investment news from the most effective Commercial Property Consultants along the London to Birmingham M40 motorway

White Commercial’s View on the Commercial Property Market in Bicester, Oxfordshire

Banbury Town Center, Banbury Cross

The Industrial & Commercial Logistics Market in Bicester, OX26

Bicester, located in Oxfordshire with a population of around 32,642 (2021 Census), is a growing town known for its strategic location near the M40 motorway. It benefits from excellent connectivity to major cities like Oxford (12 miles), London (65 miles), and Birmingham (70 miles), making it a prime location for industrial and commercial logistics.

Bicester is undergoing rapid expansion, fueled by its proximity to Oxford and Banbury business areas and its strategic position within the Oxford-Cambridge Arc, a government-designated growth area. The town has a strong manufacturing sector, supported by high levels of employment and competitive workplace earnings. Bicester’s connectivity is enhanced by the nearby junctions 9 and 10 of the M40 motorway, providing direct access to London, Birmingham,  and the National Motorway Network, along with rail links to Oxford and London Marylebone. Additionally, Aylesbury Road further strengthens the town's accessibility and transport network to the South and Buckinghamshire, contributing to its appeal for businesses and commuters alike.

Banbury Town Center, Banbury Cross

The industrial and warehouse market in Bicester has experienced significant activity and growth, particularly to the east around key locations such as Bicester Heritage and Longlands Road – with excellent access to Junctions 10 of the M40  and also the vicinity of Junction 9 (J9) of the M40 motorway where a number of new schemes including Siemens new 600,000 sq ft Research and Development unit is being built and Axis Junction 9 M40 a new and modern 750,000 sq ft Industrial and warehousing development.. The area’s proximity to J9 and its A34 Connection to Oxford and the M4 and London and Birmingham enhances its appeal for Research and Development Company’s and logistics firms, offering excellent connectivity to major transport routes and facilitating efficient distribution across the UK, with its robust infrastructure and expanding industrial facilities, has become a focal point for businesses seeking modern warehouse space.

The more established industrial areas – close to Bicester Town Centre like Launton Road Telford Road and Murdock Road have a large number of units with varying sq ft, from 1,500 sq ft to 50,000 sq ft together with some established businesses such as Barrus has  shown notable growth and resilience in recent years.. White Commercial are currently marketing unit A5 Telford Road and unit E10 Telford Road for lease. They are also marketing the Research and Development accommodation at 30 Murdock Road – Murdock House.

The Bicester industrial market has seen a rise in new developments and refurbishments, reflecting the area's attractiveness to investors and occupiers. The continued growth of Bicester’s commercial landscape is supported by local government initiatives aimed at enhancing business infrastructure and creating a favorable environment for industrial operations. With a combination of competitive rental rates and an expanding pool of available sites, including those on Telford Road and a number of open storage sites within the area, the Bicester area is positioned to continue attracting a diverse range of industrial and warehouse users in the near future.

Banbury Town Center, Banbury Cross

Commercial Developments in Bicester, Oxfordshire

Bicester has seen significant commercial development, including the Bicester Village Shopping Centre, which attracts circa 7million  visitors each year. There are also major industrial parks such as Graevn Hill Business Park Bicester Business Park and Symmetry Park Bicester – just off the A40 Aylesbury Road to the south, Axis Junction 9 to the west of Bicester and Junction 9 of the M40; Link 9 to the east of Bicester which host a range of logistics and manufacturing companies. These developments position Bicester as a key player in the regional economy, with ongoing investments in infrastructure and commercial space at Graven Hill Junction 9 and along the A43 Link Road from Junction 9 into Bicester.

Symmetry Park, located adjacent to the M40, has become a hub for logistics and distribution, with companies like Bentley Designs, Ocado, and Medline operating from this prime location, designed to accommodate the needs of modern logistics businesses.

White Commercial are also advising Albion Land on a 3 million sq ft Logistics Park at Junction 10 M40 close to Heyford Park Oxfordshire an ex United States Airforce Base of 1,250 acres – being developed as a new community by Dorchester Group. White Commercial are advising Dorchester on their large and varied Commercial Property Estate comprising Industrial Research and Development buildings  and  substantial concrete hard standing areas.

Bicester Town Centre and Residential Developments

Bicester’s town centre is evolving with new retail and residential developments. The town is set to benefit from the Graven Hill development, one of the UK’s largest self-build projects, which is bringing over 1,900 new homes and community facilities including retailing Nursery and a new School provision to the area.

Bicester Village continues to be a significant retail destination away from the typical high street, contributing to the town’s economy and attracting visitors from across the UK and beyond. The redevelopment of Bicester’s town centre, including new housing and commercial spaces, aligns with the town’s growth strategy and supports the increasing population – set to increase to circa 50,000 from its current 30,000 by 2030.

Banbury Town Center, Banbury Cross

Bicester’s Retail Market Summary & Catchment

Bicester’s catchment area covers a population of over 200,000 people, with a strong potential for retail spending due to the affluence of the local demographic. The town’s retail market which centers around the Market Square and Sheep Street benefits from limited competition in the surrounding area, with high spend potential for ‘Total Retail Goods.’

Bicester Village plays a crucial role in the local economy, drawing shoppers with its luxury brands and designer outlets. The retail market in Bicester is bolstered by the town’s affluence, with household expenditure exceeding national averages across all product categories. This presents a significant opportunity for new retailers and investors looking to capitalize on the town’s economic strengths.

Retail Availability and the Local Market in Bicester, Oxfordshire

White Commercial Surveyors reports a strong uptake in retail accommodation within Bicester, reflecting the town’s growing prominence as a retail hub. The availability of retail space is limited, with most properties being quickly leased or sold. The demand for retail spaces in Bicester is driven by the town’s expanding population and its position as a key shopping destination in Oxfordshire.

The Retail Environment and Restructure

The retail environment in Bicester has undergone significant changes in recent years, reflecting broader trends in consumer behavior and economic conditions. The town has seen a shift towards more sustainable and ethical shopping practices, with consumers favoring local and independent retailers. This shift has influenced the demand for retail spaces, with newer, more agile retailers thriving in the evolving market.

Bicester is emerging as a robust retail destination, largely due to the continued success of Bicester Village. The outlet shopping center, known for its luxury brands, has become a significant driver of footfall, attracting both domestic and international visitors. This has positioned Bicester as a prime retail hub within Oxfordshire, making it highly attractive for retail investments. Recent developments in and around Bicester Village are expected to further strengthen its retail market, with interest from major global investors highlighting the area's potential.

Banbury Town Center, Banbury Cross

Retail Property for Lease and for Sale in Bicester, Oxfordshire

The demand for retail space in Bicester is robust, with interest from both established and emerging retailers. The town’s retail market is characterized by a mix of traditional ‘bricks and mortar’ stores and online platforms, offering a multi-channel approach that caters to modern consumer preferences.

Residential Development

Bicester has seen significant residential development in recent years, which is creating opportunities for mixed-use developments. The town's growth has been supported by initiatives like the North West Bicester Eco Town project, which aims to create sustainable living spaces while supporting local amenities and commercial spaces.

Large scale development of residential accommodation at Graven Hill; north of Symmetry Park and west to Junction 9 is currently being planned.

Banbury Town Center, Banbury Cross

Office Demand in Bicester, Oxfordshire

Bicester is experiencing strong demand for office space, driven by its strategic location and competitive property costs compared to nearby cities like Oxford and London. The town’s excellent transport links, including the M40 motorway and Chiltern Railways, make it an attractive option for businesses seeking office accommodation in the region.

The demand for flexible office spaces has also increased, with companies opting for serviced offices and hybrid working environments that offer cost control and adaptability. White Commercial Surveyors is actively marketing several office suites in and around Bicester including those at Bicester Innovation Centre, catering to the growing demand for flexible, modern workspaces. There are also more ‘typical’ office buildings being marketed at Claremont House in the center of Bicester . with White Commercial selling Office Investments and Property on Howes Lane Bicester at Avonbury Business Park.

The office market in Bicester is relatively stable, with demand driven by small to medium enterprises (SMEs) and startups, especially in sectors like technology and professional services. The town's ongoing residential growth is also creating a steady demand for office spaces, including at locations such as Avonbury Business Park, similar to the Somerville Court Office Development at Banbury Business Park to the south of  Banbury. However, the market remains competitive with rental values and office occupational cost significantly lower than in nearby Oxford.

Conclusion

The Bicester region is rapidly emerging as a key commercial hub in Oxfordshire and the UK, with strong demand across retail, industrial, and office sectors. The town’s strategic location, combined with ongoing developments and infrastructure investments, positions it as a prime location for businesses and investors looking to capitalize on the region’s growth. White Commercial Chartered Surveyors continues to play a vital role in shaping the commercial properties market in Bicester, offering expert advice and comprehensive services to clients in the area.

In summary, Bicester offers a diverse range of commercial property opportunities, with the retail sector being particularly vibrant due to the global appeal of Bicester Village. The town’s strategic location continues to bolster its office and industrial sectors, making it an attractive proposition for investors looking for growth in Oxfordshire.

Chris White

Managing Director

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Harvey White

Commercial Property Advisor

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Your Questions Answered on Bicester

What is the current demand for office space in Bicester?

The demand for office space in Bicester is stable, with growth driven primarily by small to medium enterprises (SMEs) and startups, particularly in the technology, professional services, and logistics sectors. Bicester's proximity to major transport routes like the M40 and A34, and the direct rail link to London, make it an attractive location for businesses seeking affordable office space outside of Oxford. Flexible and serviced office spaces are also in demand, reflecting broader trends in hybrid working environments.

How is the retail market in Bicester performing?

Bicester's retail market is thriving, largely due to the success of Bicester Village, a luxury outlet shopping center that draws millions of visitors annually. This has spurred interest from global investors and continues to attract high footfall, boosting the town’s retail sector. Beyond Bicester Village, the town center is experiencing steady growth, with a mix of local and national retailers. The retail market is supported by a strong catchment area and increasing residential development, which is expanding the consumer base.

What types of industrial properties are in demand in Bicester?

There is strong demand for industrial properties in Bicester, particularly for logistics and distribution centers. The town’s strategic location near the M40 motorway provides excellent connectivity to London, Birmingham, and the Midlands, making it ideal for businesses involved in warehousing and distribution. Light industrial units are also in demand, catering to the needs of small manufacturers and tech companies that benefit from the town’s proximity to Oxford’s innovation ecosystem.

What are the prospects for commercial property investment in Bicester?

Bicester offers promising prospects for commercial property investment, particularly in the retail and industrial sectors. The ongoing success of Bicester Village continues to elevate the town's profile, attracting investment in retail properties. Additionally, the strategic location and growing infrastructure make Bicester an appealing destination for industrial investments, especially in logistics and distribution. The residential expansion also supports the development of mixed-use properties, making Bicester a well-rounded market for investors.

Are there any significant upcoming commercial developments in Bicester?

Yes, Bicester is seeing several significant developments. Key projects include the expansion of Bicester Village, which will introduce new retail spaces, and the continued development of industrial parks like Symmetry Park, which supports logistics and distribution businesses. The North West Bicester Eco Town project is also notable, aiming to deliver sustainable residential and commercial spaces. These developments are expected to enhance Bicester’s position as a commercial hub in Oxfordshire, driving further interest and investment in the area.