Upgrades and £8 million investment adding new space and tenants to Albion Land’s established Oxfordshire business park
"The new units are looking great and will be ready in November – and so is the interest and the uptake", says Simon Parsons, Director of Albion Land, reflecting on the phased transformation and investment going into Albion Land’s Kingston Business Park in Kingston Bagpuize.
“We’re investing in Kingston Business Park”, he says, “because of the tremendous opportunity to combine fresh space and upgrades to existing units within a thoughtful overall enhancement and repositioning of the scheme. The location is fantastic and, with all that’s happening in the Oxfordshire economy, this is a great time to add quality, affordable and flexible production and warehouse units into the market to suit a range of occupiers.”
Kingston Business Park is a 16-acre site with approximately 30 existing buildings off the A420, just nine miles from Oxford. Albion Land acquired the park in 2019 with the intention of delivering a phased overall investment and repositioning programme.
Already home to businesses including City & County Graphics, TMB Events, Newton Europe, Alfresco and Purple Transformation the ambition is to attract more occupiers in step with the new units coming onto the market.
These units – part of the Phase One redevelopment – will provide a total of 52,000 sq ft across 13 high-quality production and warehouse buildings. The 13 new buildings will provide growing or relocating businesses with flexible space in units spanning 3,095 sq ft to 5,115 sq ft.
Phase One at Kingston Business Park is scheduled to complete this November. Albion Land is investing approximately £8 million in the Phase One upgrade.
Occupier interest has been strong and pre-lets have already been agreed on approximately 40% of the new build floor area.
Will Davis, Associate Director at CBRE, acting as leasing agent for Kingston Business Park, said: “The combination of quality, affordability, location and flexibility is what really sets Kingston Business Park apart compared to other developments in the region. It’s a park with a strong pedigree and Albion Land’s investment and repositioning means that it now offers a great place for companies to look to the future. We’re keen to secure further lettings on the range of lease terms that can be offered.”
To sustain the transformation and momentum at the park, Albion Land will be looking to schedule the phase two redevelopment in approximately 24 months.
All of the phase one units are suitable for production and warehouse uses (ie traditional B1, B2, B8 uses).
Kingston Business Park is a well-connected business park in a buoyant economic location. In addition to quick and easy access to Oxford via the A420, connections are straightforward for Swindon and Abingdon (A420), Witney (A415) and into the broader Oxfordshire science, technology and knowledge economies especially Milton Park and Harwell Campus.
Now just weeks away, completion of Phase One is targeted to take place in late November.