Broker SPF Private Clients has arranged a £26.8m development loan on the 444-acre future mobility estate in Bicester, Oxfordshire.
The development finance loan from Cain International, an alternative asset manager specialising in real estate, was arranged by David Yeadon, SPF’s head of real estate for the debt advisory division.
It will fund the delivery of the estate’s latest development, designed as the headquarters for innovative transport technology companies.
Phase One, The Ranges, will be the new headquarters for Mercedes-Benz Group-owned YASA, a pioneer in new electric drive technology. This will be a substantial bespoke development totalling 90,000 square feet (8,361 square metres).
Boost for transport innovation
John Bentley, CFO of Bicester Motion, said: “This funding enables us to support YASA’s growth plans, adding their 400-strong staff team to our thriving community.
An intermediary’s guide to understanding client vulnerability
Sponsored by Halifax Intermediaries
“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.”
David Yeadon, executive director of SPF, added: “It has been a pleasure working alongside John and the wider Bicester Motion team regarding this highly prestigious first phase of development at the new innovation quarter. We look forward to retaining a long-standing relationship with Bicester Motion going forward.”
