Oxford forecast to be one of the fastest growing economies in 2018
The latest UK Powerhouse Report has forecast that Oxford will be the second strongest city economy in 2018, growing by 2.0%.
The report, which tracks the growth potential of the UK’s major cities, has identified the three strongest local economies as Cambridge (2.2%), Oxford and Milton Keynes (2.0%).
The latest consensus forecast for the UK is 1.5%.
New Freight Consolidation Centres planned to increase capacity
The latest Oxfordshire Infrastructure Strategy produced by Aecom on behalf of the Oxfordshire Growth Board, has highlighted the need for Freight Consolidation Centres along the main freight route into Oxford, the A34.
The need to consolidate the number of deliveries into the city centre is clear and the Infrastructure Report continues to highlight the provision of several centres.
Timings for the centres has been identified as a medium term priority, with delivery of the first site scheduled for 2021.
New Link 9 scheme at Bicester attracts two new occupiers
Two lettings have been secured at one of Oxfordshire’s major industrial and distribution schemes, Albion Land’s Link 9, Bicester.
The largest transaction was the 80,000 sq ft pre sale to British Bakels. The new unit, which is expected to be ready for occupation in mid 2018, will supplement British Bakels nearby production facility.
The second transaction of 72,390 sq ft to an undisclosed purchaser has also been agreed, with occupation also expected in mid 2018.
Oxford/Milton Keynes rail link due to open in 2019
The proposed Varsity line received further backing in Richard Hammond’s Autumn Budget as the potential routes for the line are investigated further.
The western section of the proposed ‘Varsity line’ is expected to be operational by 2019, linking Milton Keynes to Oxford via Bletchley.
The line is expected to be built over the previous route of the East/West rail link which was decommissioned in the 1960’s.
Reduction in supply since 2014
Growth in secondary rents since 2014