UP to 300 new jobs could be created with a major extension to the Monument Business Park, Chalgrove. Managers want it to grow by a further 55,000 sq ft.

The development will include laboratory space as well as industrial and office accommodation.

Outline planning permission has also been granted for a number of apartments to be built for people working on the park or visiting its businesses.

Paul Mabbutt, director of Jennings which owns the park, said: “We have outline planning permission but this year is about finding out what the demand is. It will be constructed over a five-year period but it cannot be speculative.”

Monument Business Park is currently home to about 80 businesses employing 600 people and occupancy is currently running at about 95 per cent.

Mr Mabbutt added that the prospect of developing apartments was “exciting.”

He said: “We currently have four houses we let out and they are always full with plenty of demand. These would be one or two-bedroom apartments ideal for a couple coming here to work.” The complex will also include a gym and education centre.

Mr Mabbutt said there has already been interest in the new development and talks are ongoing over exactly what tenants’ requirements would be.