Honda is set to sell its 370-acre site in Swindon to developer Panattoni, which has vowed to invest more than £700m on redeveloping the location.
The car manufacturer previously outlined plans to leave the plant in 2019, as it sought to restructure its global manufacturing operations.
Honda will immediately decommission the Swindon site after ceasing production at the end of July this year, at the end of the current model cycle of the Civic Hatchback.
The site is expected to officially change hands in spring 2022, with Panattoni starting redevelopment works shortly thereafter.
Panattoni will now begin planning work with Swindon Borough Council, with support from Honda.
The car manufacturer said it will assess opportunities for “small sections” at the edge of the site that are not required for Panattoni’s development for community uses.
Jason Smith, director at Honda’s UK manufacturing subsidiary, said: “From our engagement with Panattoni and initial discussions with Swindon Borough Council, we are confident that the new owner can bring the development forward in a commercially timely fashion and generate exciting prospects for Swindon and the wider community.”
James Watson, development director for Panattoni, said: “Panattoni is committing to invest over £700m into the site to attract new employers and provide for existing businesses looking to expand in Swindon.
“We will be working very closely with Honda and Swindon Borough Council, along with the community and its representatives to regenerate the site.”
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
