New £35m industrial complex announced for Thame

Published by

Stephen Emerson

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A new multi-let industrial development is to be built in Thame to help address Oxfordshire's chronic workspace shortage.

Warehouse REIT have committed £35m to create a 170,000 sq. ft site which will house 14 units suitable for a variety of industries with a scheduled completion date of December 2022.

The 10.6-acre site is located 15 miles east of Oxford and adjacent to the A329, 2.5 miles from Junction 7 of the M40 which connects directly to London and Birmingham.

A partnership between W Lamb Ltd, Blakelands and Westhall Estates will be responsible for delivering the scheme under a fixed price turn-key contract.

Demand for industrial unites in the Oxfordshire area has been driven up by the region's booming life sciences and technology sectors.

Andrew Bird, managing director of the investment advisor, Tilstone Partners Limited, said:

"This is a rare opportunity to acquire what we consider will be one of the most sustainable multi-let warehouse schemes in the Oxford area, with strong day one income guaranteed and the potential to drive rents further over the short, medium and long term. Agreeing a fixed price basis for the funding with a very well-respected established development team, combined with our ability to drive the letting on site, furthers the transaction's appeal.

"The acquisition continues the Company's stated strategy of increasing its exposure to the Oxford/Cambridge Arc, where we have increasingly deep expertise and relationships, providing a good opportunity to enhance returns through increasingly favourable supply and demand dynamics, driven by the pre-eminence of this leading innovation and employment hub."

The scheme will deliver Warehouse REIT a 12-month rent yield of 4.6% based on the fixed total price of £35 million.

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.