McLaren Construction has been selected by the developer LXB Properties to deliver an £80m 285,000 sq ft retail park alongside the M40, near Banbury, Oxfordshire.
The planning permission for the new development has been acquired in 2012 despite the opposition of local planning officers. The Banbury Gateway project will see the construction of 290,000 sq ft of new shopping space, which will house 10 retail and three restaurant/cafe units, including a 100,000 sq ft Marks & Spencer anchor store.
The existing buildings on the site next to the M40 will be demolished to make space for the new development. The Oxfordshire site was formerly the headquarters of motorsport company Prodrive, which plans to relocate to larger premises in Banbury.
Construction work is expected to start in September with the official opening scheduled for Christmas 2015. According to the developer, the new retail site will create between 800 and 1,000 construction and engineering jobs.