Broker SPF Private Clients (SPF) has arranged a £26.8m development loan on the 444-acre future mobility estate in Bicester, Oxfordshire.
The loan from Cain International, an alternative asset manager specialising in real estate investment solutions, was arranged by David Yeadon, SPF’s head of real estate – debt advisory division. It will fund the delivery of the estate’s latest development, designed as the headquarters for innovative transport technology companies.
Phase One, The Ranges, will be the new headquarters for Mercedes-Benz Group-owned YASA, pioneers in new electric drive technology. This will be a substantial bespoke development totalling 90,000 square feet (8,361 square metres).
John Bentley, chief financial officer of Bicester Motion, said: “This funding enables us to support YASA’s growth plans, adding their 400-strong staff team to our thriving community. Cain International has been supportive and flexible in providing us with the development funding required and has the capacity to increase its commitment as we continue to deliver our ambitious and exciting masterplan to boost future mobility discovery. Thank you to David Yeadon for all his advice in helping to secure this development loan.”
Nikos Yerolemou-Ennsgraber, director of Cain International, added: “Bicester Motion is a unique destination, where from our very first visit, the passion for motorsport and advanced engineering was immediately clear. We are proud to have established a new finance partnership with the Bicester Motion team as part of our ongoing strategy to support borrowers with long-term financing solutions.
“We look forward to seeing YASA’s new headquarters at The Ranges come to life and to continuing our partnership. We thank SPF for introducing the opportunity.”
Yeadon concluded: “It has been a pleasure working alongside John and the wider Bicester Motion team regarding this highly prestigious first phase of development at the new innovation quarter. We look forward to retaining a long-standing relationship with Bicester Motion going forward. Many thanks also to Nikos and the professional team at Cain International for their support.”
