AN INVESTMENT firm wants to turn a former Banbury factory site – where Second World War Spitfires used to be built – into a new business park.

Standard Life Investments has submitted a planning application to redevelop the former Sapa site, off Southam Road, Banbury.

Outline planning permission is being sought for six buildings at the 53-acre site. The application is likely to go before Cherwell District Council’s planning committee at the end of March.

A spokesman for Standard Life Investments said the site would be used for manufacturing, distribution or light industrial buildings.

Former rolling mills and other buildings at the former Alcan site — except three listed by English Heritage — were demolished last year.

The art deco office building, gate posts and memorial garden at the site have been given a Grade II listed status and will be included in the plans for the site.

Sapa sold the industrial site to Standard Life Investments late last year.

The move to develop the site has been welcomed, but concerns raised that the site could end up as large warehouse, which was likely to employ few people.

Kieron Mallon, leader of Banbury Town Council, said: “This site has the potential to relocate some of the large existing employers currently in Canalside, which would free up that land for residential development.

“The development has the potential to attract new hi- tech and high-quality jobs to Banbury from elsewhere.

“The town council would be unhappy to see this site used for just more warehousing, which offers a small number of jobs.”

Rob Kinchin-Smith, chairman of Banbury Civic Society, said Standard Life Investments was seeking to set perimeters for how the site could be developed, which included one giant warehouse that was three metres taller the original tallest building at the site.

He said: “This application seeks to elevate the value of the land. We have objected to the perimeters, which are too wide. What we would like to see is detailed applications where we can weigh the environmental harm against the community benefit.

“At the moment the application is for the maximum environmental harm – but we can’t balance that against a given quantity of jobs.”

Paul Jackson, vice chairman of Banbury Chamber of Commerce, said: “The chamber views the proposal as positive for move for Banbury, bringing much needed jobs and investment in a time of general economic difficulty.”

James Stevens, head of UK development at Standard Life Investments, said: “The development of the site is in the early planning stages and, as such, a confirmed occupier is a long way off.

“The site has the potential to create high-quality business space and significant new employment in the area.”