An engineering and fabrication company has secured a deal for a new base outside of Gloucestershire as it looks to expand.

Currently based at Bourton on the water business park, Venture Engineering Ltd have now purchased Unit 7 at Downs Road, Tungsten Park Witney, Oxfordshire, in a multi-million pound deal.

Venture Engineering will use the 15,000 sq ft building currently under construction for its globally renowned motorsport engineering and fabrication business.

The firm was established in 2015 by its three owners and in the last five years has rapidly expanded. It is an in-house design and fabrication of motorsport race parts company that allows the top race teams to maintain their competitive edge. Customers are in Formula 1 and the Le Mans 24h race, amongst other series, and include Rofgo, Aston Martin, Ford, Haas F1 Team, Redbull F1, Williams F1, Prodrive, Noble Automotive and Duncan Hamilton Rofgo.

Adrian Perkins, director, Venture Engineering said: "The move from Bourton-on-the-Water to Witney will aid the expansion of our business. Moving into Motorsport Valley and being near to the M40 are key to our plans.

"Tungsten Park was chosen as the area was perfect but also the build quality and relationship built with Tungsten over the past six months made our decision very easy. While motorsport is our background, we are gradually moving into other sectors including transport, battery power, architectural, automotive to name but a few, so this move to Witney will help us quickly achieve our growth goals."

David Mole, associate development director, Tungsten Properties said: "A warm welcome to Venture Engineering to Tungsten Park Witney. They will be joining a business community that is being built to cater for those companies which are experiencing business growth and looking for new, state of the art warehouse space.

"To have secured three businesses at our new project shows the strength of Witney as a business location in Oxfordshire."

Carter Jonas and VSL acted on behalf of Tungsten Properties.