Bicester Motion has secured a £26.8 million development loan from Cain International to deliver the first phase of its innovation quarter The Ranges.
The alternative asset manager which specialises in real estate investment will fund the new 90,000 sq ft headquarters for Mercedes-Benz Group-owned YASA, a spin-out from the University of Oxford that is pioneering new electric car technology.
Practical completion is targeted for summer 2025 with YASA’s fit out to follow and its teams to relocate in early 2026.
The Ranges’ remaining four high-specification buildings will be part of phase two.
John Bentley, chief financial officer for Bicester Motion, said: “This funding enables us to support YASA’s growth plans, adding their 400 strong staff team to our thriving community.
“Cain International has been supportive and flexible in providing us with the development funding required and has the capacity to increase its commitment as we continue to deliver our ambitious and exciting masterplan to boost future mobility discovery.”
Nikos Yerolemou-Ennsgraber, director of Cain International said: “Bicester Motion is a unique destination where, from our very first visit, the passion for motorsport and advanced engineering was immediately clear.
“We are proud to have established a new finance partnership with the Bicester Motion team as part of our ongoing strategy to support borrowers with long-term financing solutions. We look forward to seeing YASA’s new headquarters at The Ranges come to life and continuing our partnership.”
Taylor Wessing and Knights acted for Bicester Motion. Adalta Real and Bidwells are the commercial leasing agents. Simmons & Simmons acted for Cain International.
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
