Evans Randall Investors, together with HORIBA MIRA, has completed the acquisition of a further 40 acres of development land, sealing the last phase of the £500m North Site masterplan of MIRA Tech Park (MTP). The acquisition brings the total North site to in excess of 1 million sq ft as the group further the expansion of Europe’s largest automotive research and development (R&D) hub.
This milestone forms part of Evans Randall Investors’ joint venture with HORIBA MIRA, delivering up to 4 million sq ft of new space encompassing R&D, office and industrial facilities designed to support the future of mobility and innovation.
The scheme continues to attract a diverse range of high-profile occupiers, with notable companies such as Warwick Acoustics and 3M committing to long-term leases alongside the existing tenant base. In addition, planning permission for the largest single facility within MTP has been recently granted, with facilities now available up to 100,000 sq ft.
MTP holds national significance as a cornerstone of British innovation and industrial advancement, spanning key sectors including automotive, technology, defence, advanced manufacturing and more. In June, Prime Minister Sir Keir Starmer selected MTP as the venue to launch the UK’s new Industrial Strategy, further underscoring the site’s strategic importance to the nation’s economic future.
The acquisition was funded via ICG, a global alternative asset manager known for expertise in private debt financing and long-term investment partnerships.
Ned Williams, Managing Director of Evans Randall Investors, said:
“This land acquisition is the final piece of the puzzle, allowing us to deliver the North Site masterplan. MIRA Tech Park (MTP) has strong momentum, with a substantial number of pre-lets on new facilities driven by the scale of demand for space within the park. This is first and foremost a reflection of the quality of the units and the second-to-none engineering talent pool on site.
“We are proud to be working alongside HORIBA MIRA to realise the full potential of MTP as a national centre of excellence for technology, R&D and advanced manufacturing.”
Tim Nathan, Chief Operating Officer of HORIBA MIRA, said:
“This acquisition is a significant step forward in the continued evolution of MIRA Tech Park. Working alongside Evans Randall Investors, we’re delivering on a shared vision to create a campus that accelerates innovation and supports the future of mobility and clean tech technologies.”
Jai Patel, Co-Head of Real Estate Debt at ICG, said:
“We are pleased to grow our established relationship and funding partnership with Evans Randall and HORIBA MIRA as they build on their success with further expansion and future phases at Mira Technology Park. In line with our strategy of backing leading real estate owners and managers, we look forward to contributing to the delivery of new sustainability-driven assets across this pioneering innovation and technology park.”
