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McLaren celebrates groundbreaking event at Banbury Gateway for LxB Properties

PUBLISHED: 15:37 28 January 2015 | UPDATED: 15:37 28 January 2015

McLaren Construction and LxB Properties celebrated the start of construction with a groundbreaking ceremony on site of a new £80m mixed use development in Banbury, Oxfordshire.

The Banbury Gateway site was formerly the headquarters of Prodrive and will now become a 285,000 sq ft development to include restaurants, retail terraces and dedicated car parks which will see approximately 1000 permanent and 225 temporary jobs being generated for the area.

The groundbreaking event was attended by representatives from LxB Properties, Crown Estate, TFT, Prodrive and Sir Tony Baldry MP alongside the McLaren site team.

Jon McCarthy, Principal of LxB Properties said: “We are delighted to be able to start building this new exciting retail scheme. Planning has been secured and we are now 90% pre let to tenants.”

LxB will be delivering the scheme for the Crown Estate which has bought and funded the development. The scheme will be largely completed over summer 2015 so retailers can commence fit out in time for Christmas trading.

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