Building work has started at the Holywell Business Park with more than 50 per cent of the development already under offer. The 15-acre site at Southam, near Banbury, will comprise 250,000 sq ft of high quality office, industrial and warehouse accommodation.

Phase One, named The Centre, will have small industrial/warehouse units ranging from 1,200 sq ft to 10,000 sq ft. The 11 units will be ready for occupation in December.

Construction will also shortly begin on Phase Two, known as The Court. This is a development of eight prestigious two-storey office buildings ranging from 1,500 sq ft to 10,000 sq ft. The balance of eight acres will be developed to suit individual occupier requirements.

Naus Albion director Simon Parsons said: "Holywell Business Park is an exciting project as it offers a great business location and flexibility.

"Occupier interest has already been strong with more than 50 per cent of the first phase under offer. We are also in active discussions and negotiations with a number of occupiers with regard to the larger bespoke units.

"We are confident that the development will prove exceptional for both local and national occupiers and are extremely pleased with the rapid level of uptake to date."