A NEW industrial estate with the potential to create 200 jobs is to be built in Banbury.

Albion Land, of Northampton, is to develop the 6.7-acre site at Thorpe Way, previously used for storing grain.

The development, called Network 11, is within one-and-half miles of the M40 motorway.

The former agricultural grain store, previously used by food producer Dalgety, will be demolished next month and the scheme is scheduled to be finished by next summer.

Cherwell District Council chief executive Grahame Handley said: "The scheme represents an increasingly rare opportunity to locate to a high quality industrial-distribution estate in Banbury providing a comprehensive range of flexible sizes units."

He added: "Given the location and its proximity to the M40 motorway, and the strength of the local economy, I would expect this development to be let sooner rather than later. So I would urge potential occupiers not to miss the opportunity."

The speculative venture, funded by Diageo Pension Trust, will provide 96,857 sq ft of industrial and warehouse space, with six units ranging in size from 8,500 sq ft to about 35,750 sq ft. Joint letting agents are King Sturge & Co, Lambert Smith Hampton and FPD Savills.

A spokesman for the letting agents said: "For a number of years, Banbury has been voted as one of the best business locations in the UK, and we are confident that Network 11 will prove a much sought-after development."

Story date: Wednesday 20 October

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