Development of Banbury Gateway begins

Works have started on site to deliver the £80m Banbury Gateway fashion park, which is being funded by The Crown Estate, with LXB Retail Property undertaking the development.


05 November 2014

The start of development activity coincides with the completion of our purchase of the site by from LXB Retail Property for around £42m.

In December 2013, we made a commitment to fund the development of the 285,000 sq ft shopping park and purchase LXB Retail Property’s interest in the scheme.

Once complete, Banbury will be one of the best assets of its kind in the UK, offering visitors a convenient, modern destination for high quality fashion retailing”

Hannah Milne, Regional Portfolio Manager for The Crown Estate

There is currently only around 14,000 sq ft of space still available at Banbury Gateway, which means the scheme is around 90% let, with construction only just underway. Pre-lets have already been completed with a range of fashion retailers including M&S, Primark, Next, River Island, Outfit and Fat Face, as well as food and drink operators like Ed’s Easy Diner and Starbucks.

The scheme is expected to be completed by the end of 2015.

Hannah Milne, Regional Portfolio Manager for The Crown Estate said: “It’s a real testament to the quality of the development proposals that so many of the country’s most popular brands have already signed up to the scheme. Once complete, Banbury will be one of the best assets of its kind in the UK, offering visitors a convenient, modern destination for high quality fashion retailing.”

Jon McCarthy of the developer, LXB Retail Property said: “There has been strong demand for space at the park evidenced by the number of pre-lets already completed. This scheme, situated at Junction 11 of the M40 is one of the highest profile motorway sites in the UK. We are delighted to be delivering this development for The Crown Estate”.

Ground was officially broken on site at a ceremony on Tuesday (4 November 2014) by local MP, Sir Tony Baldry. Also present were representatives of The Crown Estate, LXB Retail Properties and Cherwell District Council Leader, Cllr Barry Wood.

Sir Tony Baldry, MP for Banbury said: “I have no doubt that Banbury Gateway will be a fantastic new shopping destination for the region, providing a range of benefits including opportunities for new jobs in the local area.”

Cllr Barry Wood, Leader of Cherwell District Council: “The Council welcomes these new jobs and this massive investment in our local economy."

We are the UK’s fourth largest direct owner of regional shopping parks, with a portfolio which includes 16 schemes in places like Leicester, Nottingham, Cheshire Oaks and Newcastle. Our portfolio also includes world famous retail and leisure destinations like Regent Street and 50% of St James’s in London’s West End, as well as regional shopping centres in Oxford, Exeter and Worcester. 

Further Information

Banbury Gateway Website