£7m expansion of Enterprise Zone begins
A WEST Midland Enterprise Zone has started work on the latest phase of its expansion programme.
MIRA Technology Park, the 1.75 million sq ft facility in Nuneaton, has begun work on Phase Two of its redevelopment, with the construction of a third multi-use building on the site.
The expansion is taking place because of continued growth within the high technology automotive research sector.
The 27,200 sq ft building, ‘North West 3’, represents an investment of almost £7m by the site’s owner, HORIBA Group and will house a number of global tier-one engineering companies within the building’s six secure facilities.
The latest move follows the completion of Phase One of redevelopment in February, with the construction of key infrastructure on the site. This has paved the way for Phase Two of the development including the East, South and Centre Sectors of the Technology Park. This new building is located in the North West sector of the park, and complements three other multi-tenant buildings constructed for various companies, alongside bespoke facilities created for Swedish company Haldex, and for Aston Martin.
The new facility – being built by Deeley Construction – is due for completion in November this year, and, when fully let, will accommodate 140 staff, with many of these roles being new jobs to the MIRA Technology Park site.
Total jobs created at the Enterprise Zone stand at almost 450 since 2010 and this is expected to rise to over 2,000 jobs as the Park nears completion in 2025.
Terry Spall, Commercial Director at MIRA Technology Park, said: “Phase Two will create much-needed space for new and expanding business. We are also expecting to be breaking ground on a further three new buildings this year.
“The construction of North West 3 further demonstrates HORIBA’s commitment to accelerating the growth of this automotive technology cluster and the job creation potential of the Enterprise Zone, and we’re looking forward to this next stage of development.”
MIRA Technology Park is set to be completed by 2025, and is intended to be a global centre of excellence for the automotive technology cluster.
