Schroder UK Real Estate Fund (“SREF”) has announced that electric vehicle company Arrival has let 50,000 sq ft of office space at Kensington Village over a 10-year term.
Arrival had previously let a 5,000 sq ft space at Schroders’ West London office holding but has increased its occupation by 45,000 sq ft to help support its expansion plans and create a UK headquarters for its business.
Arrival is a technology company which makes commercial electric vehicles at the same cost as petrol and diesel equivalents. Arrival’s unique approach has made vehicles in a new way – light, modular and efficient, saving 50% cost of ownership.
The company’s skateboard platform is both flexible and future proofed for self-driving. It is capable of becoming multiple vehicle variants as well as forming the perfect platform for integrating autonomous vehicle technology.
Arrival’s unique design techniques directly address legacy industry challenges that to date have prevented affordable mainstream adoption of EV technology. The company currently has trials underway with DHL, UPS, Royal Mail, and John Lewis Partnership to name a few.
Arrival will continue to construct its vehicles at its base in Banbury but will use the increased space at Kensington Village for its R&D activities. Arrival’s workforce is made up of experts from across engineering, software, AI and robotics, who have previously held positions at some of the most progressive companies in the world.
Kensington Village is home to former Victorian warehouses which have been redeveloped into modern, high quality workspaces for innovative businesses. Located close to Kensington Olympia and West Kensington Underground Station, Kensington Village allows occupiers to benefit from unrivalled national and international connections.
Jessica Berney, SREF Fund Manager, said: “Arrival is an innovative and revolutionary company which is helping to transform the motoring industry. It is a real testament to Kensington Village that they have decided to use these facilities to support their expansion.
“We expect Arrival to grow further as demand for electric vehicles continues to grow and we will ensure we support their growth by providing the best in class workspaces.”
Avinash Rugoobur, Chief of Strategy at Arrival, said: “Over the past few years our operations have increased dramatically and we are excited to expand our footprint in Kensington Village to allow them to grow even more. It’s a beautiful space and we’re pleased that our presence means the building continues to support UK industry.”