Arrival doubles space in Bicester
UK-based electric van maker Arrival has taken a 168,000 sq ft unit at Albion Land’s Link 9 scheme in Bicester – doubling its capacity.
The company, which secured the new space on a 15 year lease, now occupies units 1A and 1B totalling around 300,000 sq ft,
Arrival’s relocation to Bicester follows the company achieving an implied valuation of over £3 billion, following the sale of a 3% stake in the business to South Korean car giants Hyundai and Kia, and a supply contract with US delivery company United Parcel Service (UPS) for 10,000 purpose-built electric vans.
This deal completes the sale and letting of developer Albion Land’s Link 9 scheme in Bicester with over 530,000 sq ft, spread across 11 units on a 40-acre site, now let to occupiers including Teknos Paint, British Bakels and Stagecoach Pension Fund.
The scheme is located between junctions 9 and 10 of the M40. White Commercial advised.