Proposals for a major expansion of MIRA Technology Park (MTP) in the Midlands, led by private equity investor and developer Evans Randall Investors, have been approved by North Warwickshire Borough Council.
The approved “South Site” will deliver a high-quality, large-scale development incorporating 2.3m sq ft of manufacturing and industrial facilities that are complementary to the extensive R&D facilities and campus at the existing MTP site. This major expansion is expected to create 2,500 skilled jobs, and progress on site will be supported by major power and road infrastructure investment.
Approval for the South Site represents a significant boost for the UK’s manufacturing capabilities, in particular the automotive sector – one of the world-leading industries at the centre of the government’s £4.5bn Advanced Manufacturing Plan announced in the Chancellor’s 2023 Autumn Statement.
MTP is Europe’s largest automotive R&D cluster and one of the top performing UK Enterprise Zones. It is the pre-eminent global location for companies leading the way in low carbon and automotive technology. The park is already home to 40 major global corporates and innovators including Bosch, Toyota, Jaguar Land Rover and Polestar, providing work for more than 1,000 skilled engineers.
James Edwards, Managing Director of Evans Randall Investors, said: “We are excited to move forward with our plans for the expansion of MIRA Technology Park. The new South Site will further consolidate MTP’s status as a globally significant cluster with the ability to deliver a broad range of large-scale manufacturing, production and industrial facilities between 250,000 and 1 million sq ft.
Consents of this scale and flexibility in such a sought-after location are rare, and with macroeconomic and geopolitical factors continuing to highlight nearshoring and supply chain resilience as crucial strategic considerations for businesses, we are confident in capturing the continuing upward trajectory in occupier demand. “
Tim Nathan, Managing Director of MIRA Technology Park said, “We look forward to bringing the exciting vision for the expansion of MIRA Technology Park to its next stage with Evans Randall Investors. Over the past few years, we have seen a surge of investment in automotive and renewable energy transition, and the consented proposals for the South Site will further solidify the park’s position at the forefront of the UK’s R&D, engineering and production capabilities.”
Cushman & Wakefield are the appointed leasing agents for MTP. Evans Randall Investors will deliver the scheme alongside local development manager, Swanvale Developments. Stephen George + Partners has acted as master plan architect and Stantec has provided planning consultancy.