InstaVolt, the fast growing rapid electric charging point company has acquired Unit 6 Cedarwood, totalling 5,025 sq ft on a new lease from the Landlords Patrizia. The company, headed by CEO Tim Payne, aims to improve air quality and reduce carbon emissions by making the UK an easier place to drive an electric vehicle. InstaVolt aims to assist this by introducing more than 3,000 rapid charging points across the UK by 2020. The freestanding 50kw rapid charging units will be on a pay-as-you-go basis and can provide an 80% charge in just 30 minutes.
The company, which has recently received a £12m equity investment from ZoUK Capital, is working with local authorities, businesses and land owners across the UK to install the rapid charging points.
Tim Payne said: “The electric vehicle market has the potential to dramatically reduce pollution in the UK. Basingstoke is the perfect place for our headquarters with the town being one of the top three fastest growing in the UK and attracting large blue chip companies who are forward thinking in their approach to vehicle fleets. It is also easy for us to reach our customers across the UK with excellent access to the motorway network. We look forward to working with Patrizia to provide our product on their business parks throughout the UK.”
The company, which has taken a 10 year lease, has agreed a headline rental of £16.00 psf for the 5,025 sq ft office and laboratory building.
Rupert Batho, Director of Asset Management, Patrizia, said: “We are delighted to welcome InstaVolt to Chineham Park. This highly innovative company is looking to improve air quality by making the latest rapid charging technology easier to find and use. As enquiries from the tech sector continue to grow, this latest addition to Chineham Park demonstrates why so many smart companies are keen to locate here.”
Andrew Newman of joint agents Hollis Hockley said: “As well as benefiting from the connectivity and on-site amenities offered by Chineham Park, InstaVolt has chosen a location which provides a prestigious headquarters building in a naturally landscaped environment.”.
Hollis Hockley and Strutt and Parker are joint letting agents.