A key site which is set to form part of Oxford’s first new freehold scheme in a decade has been sold. The land covering 0.77 acres at Langford Locks, Kidlington, was sold to Glenmore Holdings for £550,000 by commercial property agents VSL & Partners acting for building firm Kingerlee.
Planning permission has been submitted by Glenmore for a speculative 16,000 sq ft development of 14 units. These will range from 1,000 sq ft and are aimed at small businesses looking for high-tech industrial space or office accommodation.
Richard Venables, director at VSL & Partners, said: “There is significant demand for this type of accommodation in the Oxford area but there is a critical lack of supply.
“As a result, this new development will be very welcome as it is the first time for 10 years owner/occupiers have had such an opportunity.”
VSL & Partners has been retained to let or sell units in the new development which is set to be ready by early 2018.