Jaguar Land Rover is to extend its stay at its Ellesmere Port base after signing a five-year deal.
The automotive giant will pay £2.6m a year after renewing its lease for the 440,000 sq ft warehouse. The site is owned by Clearbell Property Partners III LP and Barwood Regional Property Growth Fund IV LP after they bought it from Värde Partners in January 2021.
The building, which lies adjacent to Junctions 6 and 7 of the M53, includes 276 car parking spaces. The deal was announced after Jaguar Land Rover revealed its full-year results at the end of last week.
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Alice Murray, associate director at Clearbell Capital LLP, said: "This major lease renewal with an extremely strong covenant is a fitting testament to the team’s intensive asset management of the space and our collective efforts to ensure that it meets the needs of tenants.
"On top of this, the long-term commitment from such an iconic household name like Jaguar Land Rover represents a real vote of confidence in the unit."
Jonathon Ellerington, senior investment manager, Barwood Capital, added: "Having identified the property’s reversionary potential on acquisition, this lease renewal to Jaguar Land Rover is a significant achievement and a testament to the strong fundamentals of the sector."
A statement from Jaguar Land Rover said: "JLR are pleased to commit to another five years at this property to support our transition to electrification at our Halewood manufacturing facility which further affirms our commitment to the future of the UK car industry."
Clearbell Property Partners III LP is a fund managed by Clearbell Capital LLP and Barwood Regional Property Growth Fund IV LP is a fund managed by Barwood Capital.
Clearbell and Barwood were advised by independent logistics and industrial property consultancy Junction 10 Consulting.
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