Prologis has signed Jaguar Land Rover to take its entire speculative shed at Ryton in the West Midlands, as revealed by Estates Gazette in July.
Jaguar will take 225,000 sq ft at Prologis Park Ryton, serving as the new special vehicles operations technical centre.
Jaguar will take a 10-year lease with a break at year five at a rent of £5.95 per sq ft.
It will be the global hub for the creation of luxury bespoke commissions and vehicles.
Jaguar will invest £20m in specialist equipment and a customer commissioning suite.
The facility should be operational by the end of the year.
JLR managing director John Edwards said: “We are very excited by the capability and potential that this new facility will give us.
“We will be creating truly iconic vehicles that reinforce the global reputation of both the Jaguar and the Land Rover brands as we expand our product portfolio and fulfill our ambitious plans.”
Prologis managing director Andrew Griffiths said: “We are delighted that Jaguar Land Rover has chosen to establish its special vehicles operations technical centre at Ryton.
“We are investing in our prime sites to create the best opportunities in the market for our customers, and we are pleased that the speculative building meets Jaguar Land Rover’s requirements.”
Gerald Eve, NRS and JLL acted for Prologis. Montagu Evans acted for Jaguar Land Rover.
chris.berkin@estatesgazedtte.com
