A deal that will see the development of a new multi-million pound manufacturing facility in Telford, creating 300 new jobs, has been completed, leading national property consultancy Lambert Smith Hampton (LSH) has announced.
Magna International, a supplier to Jaguar Land Rover (JLR), has concluded a deal to buy land and build a 225,000 sq ft manufacturing facility at Telford 54 business park. It has been hailed as a massive boost to the area.
The company has planning consent from Telford & Wrekin Council for the development and construction is expected to begin imminently.
LSH acted on behalf of government agency the Homes and Communities Agency (HCA) to attract the global automotive parts supplier to the 37-acre site, known as Titan 640.
Matthew Tilt, associate director in the industrial and logistics team at LSH Birmingham, said the go-ahead for Magna would be a catalyst for further investment and jobs in the Telford area.
“After more than two years of discussions, this is huge news for the Midlands and demonstrates the continued commitment that big business has in investing in jobs in the region,” said Matt, who led the LSH team that promoted the site working with local joint agents Bulleys.
“Titan 640 provides everything a major operator needs and delivers from a logistics perspective too, because of its easy access to major motorway networks, so attracting a company of Magna’s calibre is a significant boost to Telford.
“It is an excellent example of how a local authority and government agency can join forces and work together for the greater good of the community.”
Nick Bird, area manager for the HCA, said: “Working with Telford Council and UKTI, we’ve secured this multi-million pound manufacturing investment for the region. We recognised the potential of the site two years ago and invested in the site to prepare it for this major development by securing planning permission, assembling technical information and conducting a targeted marketing programme.”
The Telford site will operate under the name Cosma, Magna International’s subsidiary and will bring some of the world’s most advanced structural casting technologies to the Midlands, with production beginning in 2018.
Magna is one the world’s largest automotive suppliers and has 152,000 employees in 29 countries. In Europe, it has 55,625 staff. Cushman & Wakefield represented Magna in the acquisition of the Telford site.
Telford 54 is a prominently located 78-acre site in an attractive landscaped setting close to Stafford Park, one of Telford’s major industrial estates. The site lies adjacent to the A464 only 0.85 miles from Junction 4 of the M54 motorway, linking to the M6, and 1.7 miles from Central Telford, which is undergoing a £250 million pound reinvestment as part of the Southwater Programme.
The site is allocated as a Committed Employment Site within the Wrekin Local Plan and is considered suitable for industrial, warehouse, and research & development uses within Classes B1 (b and c), B2 and B8.