Known as West Midlands Interchange, the partners plan to invest around £1bn in the site to the north west of the city bringing forward the project over several years.

West Midlands Interchange will be a technologically advanced and environmentally sustainable development.

The site, which was bought from Four Ashes – a partnership including Kilbride Holdings and Grosvenor Group – already has planning consent for around 8 million sq ft of prime logistics space.

Infrastructure works are expected to start in the first half of next year with the first buildings starting on site in 2022 ready for occupation in 2023.

The site can accommodate new warehouses ranging in size from 200,000 sq ft to over 1 million square feet, with building heights up to 30 metres.

As part of wider infrastructure improvements, Oxford and LCP will build a new link road to connect the A5 and A449, enhancing the resilience of the local road network to improve access to the site and achieve additional public benefit.

In addition, the project will create a strategic rail freight interchange, which will provide intermodal access for occupiers.

Sustainability sits at the heart of the site’s masterplan, which includes ctreating two new country parks of a combined 109 acres.  Warehouse roofs will be built to accommodate installation of photovoltaic panels, enabling the generation of renewable energy.

James Boadle, Head of Logistics and Residential, Europe at Oxford Properties, said: “Logistics remains one of our highest conviction calls globally, benefitting from substantial undersupply of prime new space while the growth of e-commerce and demand for expedited supply chains continues unabated, accelerated by the effects of Covid-19.”