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Atlas Real Estate has recently acted on behalf of Tungsten Properties to agree the forward funding of a 4-unit mid-box scheme in Witney.
Tungsten Properties, one of the UK’s leading industrial and warehouse developers, has agreed a £26.4 million forward funding deal with NFU Mutual for the speculative development of the final phase of its warehouse and industrial project at Downs Road in Witney, Oxfordshire.
The four-unit scheme will total 167,800 sq. ft. and is expected to house circa 150 jobs. It was granted planning consent in February 2022 by West Oxfordshire District Council.
Andrew Franck-Steier commented “We are delighted to have concluded the funding of Phase 2 to NFU Mutual, having completed the funding of Phase 1 to BP Pension Fund. Tungsten will be delivering best in class product, and I am sure that occupier interest in the scheme will be very strong”.
Phases 1 & 2 total a combined funding price of £53,000,000.
Burbage Realty acted for NFUM.