The developer has agreed lease terms with Oxford Instruments Nanotechnology Tools Limited for a new, bespoke, manufacturing and office development.

Planning consent has been granted for the project which will commence on site in March.

Matt Kelly, Managing Director for Plasma Technology Oxford Instruments, said: “Our new site will be a modern, leading edge Laboratory, Manufacturing and office environment for our colleagues, customers, and collaboration partners.

“Our staff will have a welcoming environment that supports team working, innovation, training and gives them flexibility. Our customers will have the ability to see our solutions and train in our facility.

“Our building will also be a base to welcome community groups, such as schools and universities promoting STEM subjects. We will be engaging our teams to create a sustainable, safe building that will ensure we deliver for our customers and everyone working within it.”

James Drew, Development Director for Trebor, on behalf of Trebor/Hillwood, added: “In addition to Oxford Instruments’ building, we will be developing at the same time a further building of 113,000 sq ft on a speculative basis”.

The second speculative building is available on a leasehold or freehold basis and the development value of both is £21m.