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MIRA Technology Park, Southern Manufacturing sector in Warwickshire

A £260 million funding opportunity for occupier-led investment in the industrial sector with potential for a multi-phased development approach.

MIRA Technology Park is one of the UK’s leading enterprise zones and a location for over 40 major international high-tech engineering and clean-tech companies.

With global corporates and innovative electric vehicle as occupiers, it’s one of Europe’s largest and fastest-growing innovation centres for high tech engineering, autonomy, electric and hydrogen propulsion systems.

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Location:

Nuneaton, Warwickshire

Investment type:

Capital investment - real estate

Sector:

(Greener buildings, Real estate, Automotive, Offices, Infrastructure, Industrial & logistics, Science & innovation)

Project promoter:

HORIBA MIRA Ltd

Scale:

£260 million GDV

Planning status:

Detailed planning obtained

Time to Final Investment Decision (FID):

1-2 years

Lisa Longstaff

Lisa Longstaff

Senior Investment Specialist

Contact the opportunity lead

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Sector and market opportunity

The site benefits from the recent large power and road infrastructure investment, which was to support the development of MIRA Technology Park.

Whilst progressing through planning, an early application would enable delivery of the development by early 2024.

Location

MIRA Technology Park lies at the centre of the UK’s automotive industry, inside an economic growth corridor that can be accessed from the newly upgraded A5 road between Atherstone and Hinckley in Warwickshire.

Connectivity

Being situated on a major arterial route with excellent transport links, MIRA Technology Park has exceptional access to companies at the heart of the UK’s low carbon R&D and engineering sectors.

The location, together with the UK’s most comprehensive automotive proving ground and test facilities, makes MIRA Technology Park the preferred site for world-class companies that are focused on electrification, autonomy and cyber security.

Local talent and skills

MIRA Technology Park attracts the best engineering talent from across the globe.

The Midlands has a strong, advanced manufacturing and engineering base, while its 19 universities and the MIRA Technology Institute ensure future talent is nearby.

Further details

The technology park consists of 40 major test facilities and over 66 miles (106 kilometres) of test tracks, making it a world-class facility.

The synergy between the industry cluster and facilities at the existing MIRA Technology Park gives companies at the forefront of new transport technologies a chance to capitalise on developments in the transport industry.

Whilst the technology park benefits from existing planning consent for 139,716 square metres, on completion it will comprise of 394,830 square metres.

The Southern Manufacturing Sector opportunity will be an additional 59 hectares (146 acres) linking directly into the existing MIRA Technology Park site.

It provides a great opportunity for approximately 232,250 square metres (2.5 million square feet) of advanced automotive manufacturing facilities.

Environmental, social and governance (ESG) highlights

HORIBA MIRA can support businesses to propel energy-efficient electric and hybrid vehicles, products and systems into the marketplace.

It uses extensive simulation and modelling, combined with targeted and versatile development facilities to develop safer, cleaner and smarter vehicles.

It works with clients in the latest areas of vehicle electrification development, investing in advanced and versatile new facilities, and offering support from concept design through to final validation.

Promoters and partnerships

The development is being promoted and delivered by a joint venture between Evans Randall Investors and HORIBA MIRA who is owner of Mira Technology Park and operates the facilities from the park.

The partnership works closely with key stakeholders in the enterprise zone and southern manufacturing sector. This includes Leicestershire and Coventry & Warwickshire Local Economic Partnerships, West Midlands Combined Authority, Hinckley and Bosworth Borough Council and North Warwickshire Council.

Local and national government support

Supported heavily by the West Midlands Combined Authority, Leicestershire and Coventry & Warwickshire Local Economic Partnerships, Hinckley and Bosworth Borough Council and North Warwickshire Council.

Other opportunities

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