Barings Real Estate has acquired five light industrial units within Network @ Link 9, a newly completed industrial estate in Bicester, Oxfordshire, for €14.7m (£12.8m), on behalf of an institutional investor. Network @ Link 9 was completed to a high standard in September 2018 by Albion Land and is positioned in an area that has become a focus of residential and commercial growth due to the strong road and rail connections from Bicester to London, Birmingham and Oxford.
The five properties provide 101,500ft² of new Grade A light industrial accommodation with floorplates ranging from 14,158ft² to 30,050ft². The units, which can be combined to accommodate tenant requirements, offer office space with raised flooring and comfort cooling, as well as ample parking. With limited existing quality stock in Bicester and surrounding areas, combined with a diverse and strong occupier market, it is anticipated that demand for the units will be strong.
Darren Hutchinson, Barings Managing Director and Head of U.K. Real Estate Transactions, said: "Network @ Link 9 is a high-quality estate in a growing and undersupplied market. With its strong transport links and proximity to the M40, demand for industrial space in Bicester is at an all-time high. Given our extensive capabilities in the industrial sector and early interest from several prospective tenants, we are confident in our ability to lease-up the property.”
