A DEVELOPMENT that will be worth more than £350m has been given the green light to build next to Bicester Village.

Property developers Peveril Securities and Sladen Estates have bought a 34-acre site off the A41 in Bicester for commercial space.

It has received planning permission to build offices on 645,000sq ft of the site adjacent to designer outlet Bicester Village set within a landscaped business park environment.

The partners were drawn to the area after the government announced that Bicester had achieved a ‘Garden Town’ status.

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Peveril Securities and Sladen Estates say the development presents an 'excellent opportunity' to provide a high-quality living and working environment on the edge of the Oxfordshire countryside.

Ralph Jones, managing director of Peveril Securities, said: “Our scheme will be suitable for a range of uses, from headquarters office buildings to research and development facilities. Due to its proximity to Bicester Village retail park, other complimentary uses may also be suitable subject to planning permissions.

Bicester Advertiser:

We believe this site provides an excellent opportunity suitable for a number of businesses to locate themselves within a quickly growing and expanding area.

"Bicester is currently seeing significant amounts of development across a range of sectors that is being led by both its excellent road and rail connectivity, and its proximity to the idyllic Oxfordshire countryside."

The developers say the scheme is also well-placed to take advantage of the Oxford-Cambridge Arc, providing infrastructure and connectivity links between the cities while also providing more than one million new homes and jobs.

It will join other business parks that have been approved in Bicester by Cherwell District Council this year.

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One of which is a new health club and business park called Catalyst Bicester, which features a David Lloyd Gym as well as offices, laboratories, research and development, and manufacturing space.

Another recently approved site for development is Bicester Gateway, which will also provide flats in a bid to become a space for people to both live and work in.

These two developments are located off Wendlebury Road, off the A41 close to Bicester Village too.

Bicester Advertiser:

Nick Sladen, chief executive at Sladen Estates, says he looks forward to working with Peveril Securities to deliver the new scheme.

He said: “Sladen Estates and Peveril Securities together have an intimate knowledge of the local market in this area, as well as national development and contracting expertise.

"Together we have the scale, expertise and resources needed to make the most of the opportunity that this particular scheme presents and we look forward to bringing it forward.”

Based in the East Midlands, Sladen Estates and Peveril Securities have an established background in the regional and national commercial property markets, with a record of delivering large-scale developments across the UK.