A Vale business park will be home to the first speculative development in the county for more than five years, if plans get the go-ahead.
Westcott Venture Park, which is the largest of its kind in Bucks, has submitted a planning application for the distribution development.
‘Speculative’ refers to building units and then marketing them to businesses, rather than constructing them on-spec with a firm already in mind.
If given the green light, owners Rockspring will invest more than £3 million into the 45,000 sq ft development which will include seven accommodation units.
These buildings, ranging in size from 2,000-6,000 sq ft, would be set on three acres of the 650-acre site between Aylesbury and Bicester.
Nigel MacKenzie, project manager at the park, said: “Rockspring hopes to accelerate its investment in the park by developing this speculative facility and deliver much needed premises for the business marketplace.”
“We have seen significant interest in land and facilities at the park which has been running at 95% occupancy for some time.
“This interest, coupled with the lack of grade A space in the region has prompted the fund to move forward with this new phase of development.”
Mr MacKenzie said the scheme will ‘maintain development momentum’ after a 30,000 sq ft unit refurbishment was let to Green Retreats, and a headquarters for Construction Specialties was built from scratch.
A distribution unit for FedEx has also been built and a unit for Topcats Racing is nearing completion.
The park is now home to more than 71 businesses employing more than 400 people and is managed by Lambert Smith Hampton.
In the last two years, Rockspring has invested more than £6 million including a new estate road and gatehouse complex, which has opened up land for further development.
For more information about Westcott Venture Park, visit www.westcottventurepark.co.uk