2 minute read - 26th September 2022
MIRA Technology Park expansion could create 2,500 new jobs
Private equity real estate business Evans Randall Investors has submitted a planning application for a major expansion of the MIRA Technology Park (MTP) in the Midlands.
In June 2021, Evans Randall Investors signed a joint venture agreement with HORIBA MIRA to become the exclusive developer for MTP and oversee the next phase of its development, which, alongside further development of the existing MTP site, will see it expand across 150 acres to the south of the existing cluster.
The proposed Southern Manufacturing Sector will link directly into the existing MTP site, adding an additional 2.3m sq ft, bringing the total size of the development to 3.5m sq ft. It will provide opportunity for large-scale mobility, advanced manufacturing and low carbon-related facilities, and support 2,500 additional jobs, further expanding Europe’s largest and fastest-growing automotive and mobility R&D cluster. Importantly, it will significantly increase MTP’s capacity to accommodate large-scale facilities up to 700,000 sq ft.
Plans have been submitted to expand the MIRA Technology Park. The development could create up to 2,500 new jobs in the Midlands / Picture: Evans Randall Investors
The MIRA Technology Park is already home to over 35 major international companies including Bosch, Polestar, Jaguar Land Rover and Toyota. MTP also contains more than 40 major vehicle development facilities and provides work for more than 1,000 skilled engineers.
James Edwards, managing director at Evans Randall Investors, said: “The proposed expansion of MIRA Technology Park, which will allow large-scale manufacturing facilities to be developed alongside the existing, globally unique combination of R&D facilities, engineering services and test assets, represents a major step forward in the evolution of this asset and will bring further inward investment to the Midlands region.
‘The park has a rich history of innovation and is now pioneering the next generation of automotive R&D, pushing forward the technologies that will transform global mobility in the zero-carbon era. This masterplan will consolidate MIRA Technology Park’s status as a globally significant cluster, attracting world-leading companies, as well as developing and retaining local talent in the Midlands.”
Tim Nathan, managing director of MIRA Technology Park, added: “The proposals set out an exciting vision for the expansion of the park, which builds on recent momentum. The past year has seen investment in renewable energy generation including a hydrogen electrolyser that will deliver green hydrogen for R&D use and the low carbon innovation hub. This planning application will further solidify the park’s position at the forefront of UK R&D.”
The MIRA Technology Park is already home to more than 35 firms including Bosch, Polestar, Jaguar Land Rover and Toyota / Picture: Evans Randall Investors