Prologis, the Solihull-based logistics real estate firm has secured a major double letting, the first at its Prologis Park Birmingham Interchange.<\/p>\n
International Automotive Components Group (IAC) \u2013 a leading global supplier of automotive components and systems \u2013 has signed 11-year lease for both buildings on Prologis Park Birmingham Interchange in Solihull.<\/p>\n
The units, totalling 310,000 sq ft, are located close to the production site of Jaguar Land Rover (JLR), a longstanding customer of IAC, and will be used solely to service JLR\u2019s requirements.<\/p>\n
IAC anticipates full production to begin at the site in 2021 and will create 400 jobs in the region.<\/p>\n
The units will be home to manufacturing, assembly and sequencing, in addition to housing certain centralised UK-based functions such as engineering, programme management, commercial, finance and IT.<\/p>\n
IAC also plans to invest in highly automated process manufacturing for the site.<\/p>\n
\u201cWe are a customer-centric company, which is why it was an easy decision for us to expand our operations near our customer\u2019s production sites,\u201d said Manfred Gingl, IAC Group\u2019s CEO.<\/p>\n
\u201cIAC views the UK as a strategic market, and we look forward to continuing our partnership with JLR long into the future.\u201d<\/p>\n
IAC currently supplies components and interior trim to Land Rover and Range Rover models in the UK.<\/p>\n
Prologis said the park was designed with the considerations of not only the needs of employees working there but also the local community with dedicated green, open spaces with walking trails open to both.<\/p>\n
In the past 20 years it has invested more than \u00a31bn in the West Midlands.<\/p>\n
Within the UK Prologis has \u00a33.7bn (26 m sq ft) of assets under management and a land bank capacity of 4.2m sq ft and a further 12m sq ft under option.<\/p>\n
\u201cIAC\u2019s decision\u00a0to locate its facility at Prologis Park Birmingham Interchange further endorses the West Midlands as a premier location for the automotive sector and is a huge vote of confidence for the region,\u201d said\u00a0Ashleigh Hayes, Associate Market Officer for Prologis UK.<\/p>\n
\u201cThis dual letting is great news for local employment, and we are delighted to be able to support IAC Group\u2019s continued expansion in the UK.\u201d<\/p>\n
Savills and Burbage Realty acted for Prologis UK and IAC was represented\u00a0by\u00a0Melissa Wase-Rogers, Director at CBRE.<\/p>\n","protected":false},"excerpt":{"rendered":"
Full production at the units will begin in 2021 and will create 400 jobs in the region<\/p>\n","protected":false},"author":237924,"featured_media":2032299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[62334],"class_list":["post-2032298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-top-story"],"yoast_head":"\n