Up to 450 jobs could be created near Banbury following a major land deal.

Kennet Properties has sold 13 acres of its 50-acre Origin site near Junction 11 of the M40 to developer Albion Land for £3m in one of the first speculative land purchases since the economic downturn.

Albion now plans to build a new scheme known as Network M40 which will include major warehousing and industrial buildings available for companies.