Audio technology company Warwick Acoustics is to occupy a new research, development and manufacturing facility at MIRA Technology Park in the Midlands.
The company, which has been based at the park since 2018, has signed a 10-year lease for 36,000 sq ft of office and technical space in a 72,000 sq ft facility that is currently under construction.
The building is expected to achieve BREEAM Excellent and EPC A ratings. The facility is due for delivery in Q4 2024.
The development forms the second phase of the existing 850-acre park, which will add 1m sq ft of research and development, innovation and engineering facilities. The wider masterplan features 2.3m sq ft of manufacturing and industrial facilities.
Expansion of the park is being led by Evans Randall Investors in a joint venture with HORIBA MIRA, with project delivery managed by Swanvale Developments.
James Edwards, managing director of Evans Randall Investors, said: “This [deal] underlines the value of MIRA Technology Park’s strategic location at the epicentre of the UK’s automotive and manufacturing sectors and the desirability and attractiveness of the cluster to occupiers and their business objectives.
“Following the south site approval, we continue to move forward with the masterplan, which will significantly enhance the capacity of MTP to deliver a broad range of research and development, manufacturing, production and industrial facilities.”
Mike Grant, chief executive of Warwick Acoustics, said: “Manufacturing our product where we are based is important to us, not only for ensuring the sustainability and quality of our output, but also because UK production offers real global competitiveness from where we can challenge industry norms in this huge $8bn global market.”
Cushman & Wakefield are the leasing agents at the MIRA Technology Park.
Image from Evans Randall Investors
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