The business park, located on the northern outskirts of Banbury, is home to more than 70 businesses.

Cherwell Business Village on Southam Road has been sold to new owners after being listed for £7million.

The 15.89-acre business park comprises around 96,000 sq ft of office, industrial, workshop and storage space and is home to more than 70 businesses.

White Commercial Surveyors has confirmed that DBI Properties Ltd has recently acquired the site from Clowes Developments (Northwest) Limited.

The site formerly formed part of the Alcan plant but was converted into a multi-tenant business park following the aluminium company's closure.

White Commercial Surveyors has a long-standing association with the site, having originally represented Alcan when the property was sold to Clowes more than 20 years ago.

Chris White, managing director of White Commercial Surveyors, said: “Cherwell Business Village has been an important part of Banbury's commercial property market for many years.

“It provides the type of accommodation that a lot of businesses need, whether that's a small office, a workshop or additional storage space. We've known the property for more than 20 years, so it's particularly pleasing to have been involved in the sale and to now be working with the new owners.

“There continues to be demand for well-located, affordable commercial space along the M40, particularly from smaller businesses that need flexibility as they grow and develop.”

Gary Lockley, speaking on behalf of the new owners DBI Properties Ltd, said: “We look forward to working with existing occupiers and, with the help of the team at White Commercial, also welcoming new businesses to Cherwell Business Village.”