A £26.8 million development loan has been secured by a site near Bicester to go towards building an electric motor manufacturer's new headquarters.

The funds, secured by Bicester Motion, will be used to deliver the first phase of The Ranges, the estate's latest development designed for headquarters buildings for innovative transport technology companies.

Phase 1 will be the new headquarters for Mercedes-Benz Group-owned YASA, a University of Oxford spin-out pioneering new electric drive technology.

The Ranges at Bicester MotionThe Ranges at Bicester Motion (Image: Bicester Motion) Its headquarters, which Bicester Moton described as a "substantial, bespoke" development, will be located on the former site of the rifle ranges with views and direct access to the airfield, test track, and green spaces.

It is hoped the site will be completed by next summer, with YASA's fit out to follow and teams to relocate in early 2026.

Nikos Yerolemou-Ennsgraber, director at Cain International, an alternative asset manager which has provided the loan, said: "Bicester Motion is a unique destination where, from our very first visit, the passion for motorsport and advanced engineering was immediately clear.

A model of YASA’s new headquarters at Bicester MotionA model of YASA’s new headquarters at Bicester Motion (Image: Bicester Motion) "We are proud to have established a new finance partnership with the Bicester Motion team as part of our ongoing strategy to support borrowers with long-term financing solutions.

"We look forward to seeing YASA’s new headquarters at The Ranges come to life and continuing our partnership.”

John Bentley, chief financial officer at Bicester Motion, added: "This funding enables us to support YASA’s growth plans, adding their 400 strong staff team to our thriving community."