Industrial hub appointment for consultancy

THE industrial agency team at property consultancy CBRE in Birmingham has won a contract on a new development scheme in Banbury.

The 60-acre site, next to Junction 11 of the M40, is being developed by Northampton-based Barwood Developments, with funding from the British Airways Pensions Fund.

CBRE has been appointed as joint agents alongside Banbury-based White Commercial to market the ‘Central M40’ scheme.

Up to 1.24m sq ft of prime industrial and distribution space can be built on the site, with design and build units from 100,000 sq ft.

Nick Waddington, senior director industrial agency, said: “The Midlands’ automotive industry has enjoyed something of a resurgence recently with manufacturers such as Jaguar Land Rover and Peugeot confirming their commitment to the region with both car firms announcing plans to build new facilities in Wolverhampton and Coventry respectively.

“With Central M40 being situated at the heart of the Midlands’ distribution network, we fully expect it to attract occupiers from the automotive sector.”