McLaren Construction and LxB Properties celebrated the start of construction with a ground breaking ceremony on site of a new £80m mixed use development in Banbury, Oxfordshire.

The Banbury Gateway site was formerly the headquarters of motorsport company Prodrive and will now become a 285,000 sq ft development to include restaurants, retail terraces and dedicated car parks which will see approximately 1,000 permanent and 225 temporary jobs being generated for the area.

The ground breaking event was attended by representatives from LxB Properties, Crown Estate, TFT, ProDrive and Sir Tony Baldry MP alongside the McLaren site team who together officially marked the start of construction of the site.

Jon McCarthy, Principal of LxB Properties stated: “We are delighted to be able to start on site building this new exciting retail scheme. Planning has been secured and we are now 90% pre let to Tenants.

“LxB will be delivering the scheme for the Crown Estate who have bought and are funding the development. The scheme will be largely completed over summer 2015 at which point the retailers will take access to commence their fit out works in time for Christmas trading.”

David Horton, McLaren Construction Regional Managing Director (Midlands & North), commented: ‘’We are very pleased to mark the construction of this development with LxB Properties and we look forward to establishing a successful working relationship with them.”

Construction works will be completed for Christmas 2015.

 Image from left to right:

Michael Bell, Asset Manager, The Crown Estate (funders of project)

David Horton, Regional Managing Director – Midlands & North McLaren Construction

Sir Tony Baldry MP for Banbury

Jon McCarthy, Principal of LxB Properties

McLaren celebrates ground breaking event at Banbury Gateway for LxB Properties