IM Properties is to lease 2.94m sq ft to Jaguar Land Rover for its global parts distribution centre in the East Midlands.
The five units will provide a consolidated logistics hub providing parts to 80 markets worldwide as part of a wider development.
The campus at Appleby Magna, at junction 11 of the M42, is currently pending planning consent from North West Leicestershire District Council due for consideration at the committee on 3 September.
IMP acquired the 238-ace site in 2016. It expects to begin development in Q2 2020, with the first unit completing in May 2021. JLR will seek to transfer operations to the hub in early 2022, with completion expected in 2023.
Kevin Ashfield, UK development director at IM Properties, said: “There are not very many sites in the UK which could deliver this scale of development in the right location for Jaguar Land Rover.
“We believe the proposed planning application puts forward a high-quality, sustainable scheme that will have huge economic benefits for the local area and retain an important element of the Jaguar Land Rover business in the region.”
Colliers advised Jaguar Land Rover.
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