A SECOND plan for business premises by the M40 at Banbury has been announced, taking the total number of new jobs in the area to 1,500.

Barwood Developments Ltd has submitted a plan for six industrial units for land off Overthorpe Road, on the Banbury side of the motorway, by junction 11.

It comes as final plans are submitted for a major new retail park at nearby Acorn Way, creating 500 jobs.

Peter Frampton, the planning consultant for the Overthorpe Road scheme, said the units are expected to provide about 1,000 manufacturing and warehousing jobs.

Though he said he could not give names as deals had not been signed, firms had expressed an interest in the 27-hectare greenfield land scheme, he said.

Mr Frampton said: “It will appeal to national and international companies because it is close to the M40. There is interest in the development already. This is really good news at the end of 2011.”

An outline planning application has been submitted to Cherwell District Council seeking approval for the principle of the scheme.

A detailed application would then need to be approved and it is hoped the buildings could be up by the summer.

The council has said land around the junction is a key site for future employment.

Banbury Town Council leader Kieron Mallon said: “Banbury’s location with the fantastic motorway and rail links means that it is ideally placed for firms to expand or relocate here.”

As previously reported by the Oxford Mail, motorsport firm Prodrive will move to make way for the retail park at Acorn Way.

The “Banbury Gateway” retail development is set to include a Marks & Spencer and Next and would create 500 jobs, developers said.

Prodrive, one of the town’s largest employers, would move to a purpose-built HQ at the former Hella car lighting factory in nearby Wildmere Road.

If given permission, Prodrive would begin to relocate next summer and the retail park would open in 2014.