Paloma Capital and Graftongate gain triple planning win in Banbury

Private equity real estate investor Paloma Capital and Warwickshire-based real estate developer, Graftongate, have secured three new planning consents at a logistics location in Oxfordshire.

The joint venture partners will develop a drive-through Starbucks, new electric vehicle charging facility, and surface-level car park on a site off Southam Road in Banbury.

The property is located near Junction 11 of the M40 next to a recently refurbished 200,000 sq ft warehouse, let to Amazon.

Graftongate will develop a new 2,200 sq ft drive-through on a 0.85 acre site fronting Ruscote Avenue that will trade as Starbucks for a minimum term of 15 years.

A new 156 EV van charging station will be developed on an adjoining four-acre site. Both sites are owned by Paloma Capital.

Limited has agreed to lease around 3,400 sq ft on the first-floor east wing on a fiveyear lease.

And electric vehicle charge point manufacturer Compleo Charging Solutions has agreed a five-year lease, extending to approximately 2,000 sq ft of space.

Hertfordshire-based commercial property investor and developer Mantle Estates acquired The Lambourn Building in 2019.

The third development will see the demolition of a redundant, former office building owned by Jacobs Douwe Egberts to make way for a new 215-space surface-level car park, serving employees from its Banbury coffee factory. On completion of the new facility, Jacobs Douwe Egberts existing car park will be let to and occupied by Starbucks and a multinational technology company.

Work on all three projects is expected to be completed by Spring next year.

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