Phase 3 at Axis J9, Bicester Oxfordshire forward sold to Mirastar Real Estate
Albion Land has forward sold Phase 3 at Axis J9 in Bicester, Oxfordshire to Mirastar Real Estate Investment Management Limited for over £30 million which is another significant investment along the booming London to Birmingham M40 Corridor and economy.
Constriction of the successful manufacturing and distribution park began in July 2019 totalling around 480,000 sq ft across 14 buildings has seen the letting and sale of Phase 1 and 2 buildings all within the last 6 months (230,000 sq ft). The park provides high quality employment units for both expanding local businesses and large organisations looking to relocate between the UK’s 2 main cities. Phase 3 will comprise two logistics and industrial buildings totalling 250,000 sq ft – Unit 6 will be 90,000 sq ft and Unit 7 160,000 sq ft.
Axis J9 will further contribute to the expansion of Oxfordshire and the M40 Corridor, described as “vibrant, sustainable, inclusive, and world-leading – driven by innovation, enterprise and research excellence.” – Oxlep.
Chris White, MD at White Commercial Surveyors jointly advising Albion Land and Mirastar comments “This is another successful scheme for Albion Land along the London to Birmingham M40, based upon the region’s growing economic and residential expansion. We continue to experience substantial and rising demand from logistics and industrial occupiers for the region benefitting from the excellent road and rail networks between the UK’s 2 main cities. We expect that this trend will continue as the corporate sector looks to de-urbanise following the COVID pandemic and its associated repercussions for working practices.”