Bicester Motion has secured a £26.8m development loan from Cain International to fund the first phase of The Ranges, which will provide headquarter space for innovative transport technology companies.
Phase one at the 444-acre future mobility estate in Bicester, Oxfordshire, will feature a new headquarters for Mercedes-Benz Group-owned YASA – a spin-out from the University of Oxford, which is pioneering a new electric drive technology.
The 90,000 sq ft headquarters will be located on the former site of the rifle ranges and offer uninterrupted views and direct access to the on-site airfield, test track and expansive green spaces.
The Ranges’ remaining four high-specification buildings, which have been masterplanned specifically for future mobility design, light manufacturing, research and development, will form part of phase two of the development.
John Bentley, chief financial officer at 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 at Cain International, added: “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 on behalf of Bicester Motion and Simmons & Simmons represented Cain International. Adalta Real and Bidwells are the commercial leasing agents.
