Forward-funding secured for Oxon warehouse development

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AIM-listed e-commerce urban and last-mile industrial specialist Warehouse REIT has forward funded a 170,000ft2 a multi-let industrial development in Thame, Oxfordshire, to the tune of £35 million.

A partnership between W Lamb, Blakelands and Westhall Estates will be responsible for delivering the 10.6-acre scheme under a fixed price turn-key contract, scheduled to practically complete in December 2022.

Comprising 14 units ranging in size from 3,000-50,000 ft2 and suitable for a range of uses, the development will be delivered to the highest sustainability specifications, achieving an EPC A rating and a BREEAM ‘Excellent’ certification. Features will include a renewable energy source on site and the buildings will be set up for electric vehicle charging.

The Oxfordshire industrial market is characterised by an acute demand-supply imbalance, driven by the growing dual demand from both industrial and science and technology occupiers. With take-up in 2021 reaching record levels and supply decreasing by nearly a quarter, strong rental growth is forecast.

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