Real estate investor and developer Evans Randall Investors announced on Thursday that Warwick Acoustics, a UK audio technology company, has signed to occupy a major new R&D and manufacturing facility at MIRA Technology Park (MTP) in the Midlands, UK.
Warwick Acoustics has signed a 10-year lease to occupy 36,000 ft2 (3,344 m2) of office and technical space in a new 72,000 ft2 unit.
Currently under construction, following the appointment of GMI Construction by Evans Randall in February, the unit will achieve strong ESG credentials and will be delivered to a BREEAM rating of “excellent” and an EPC “A” rating. Cushman & Wakefield, the appointed leasing agents at MTP, is marketing the remaining 50% of the unit that is due for delivery in Q4 2024.
The purpose-built hybrid R&D unit represents the commencement of the second phase of development of the existing 850-acre MTP site, which will add 1 million ft2 of R&D, innovation and engineering facilities.
The park is already home to 40 major global corporates and innovators including Bosch, Toyota, Jaguar Land Rover and Polestar.
The letting is the latest positive step in the development and expansion of MTP, which is being led by Evans Randall Investors in a joint venture with Horiba Mira, with project delivery managed by Swanvale Developments.
In February 2024, North Warwickshire Borough Council resolved to approve the major “South Site” development of MTP, which will deliver a high-quality, large-scale development incorporating 2.3 million ft2 of manufacturing and industrial facilities.
James Edwards, managing director of Evans Randall Investors, said: 'To be able to support the continued expansion of an ambitious, world-leading, UK company such as Warwick Acoustics is great news for the Midlands. This underlines the value of MTP’s strategic location at the epicentre of the UK’s automotive and manufacturing sectors and the desirability and attractiveness of the cluster to occupiers and their business objectives.'
