Palmer Capital

Following the recent announcement by Manse and Opus Land of their proposed 2,000,000 sq ft scheme known as Prospero, Ansty, it has now been revealed that Meggitt PLC are to invest £130 million at the site.

International aerospace and defence engineering group Meggitt PLC today announces plans to build a multi-million pound facility in the West Midlands.

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This major £130m project at Prospero, Ansty in Coventry would bring together a number of Meggitt’s existing operations and represents a significant investment in the long-term future of Meggitt’s UK manufacturing capability.

The facility, which would provide a base for up to 1,000 employees, strategically positions the business for future growth and will serve as a hub for next-generation aerospace innovation and R&D and as a catalyst for world-class operational performance.

manse-opusThe 440,000 sq. ft. facility aims to combine a range of operations ─ Aircraft Braking Systems, Control Systems, Customer Services & Support and Corporate Shared Services ─ within a world-class aerospace, engineering and technology environment.

Plans for the site include an engineering and manufacturing Centre of Excellence and a new, purpose-built capability for future aerospace thermal management technology – already supported by the UK Aerospace Technology Institute (ATI) with a research and development award of £3.7m.

It is planned for the new facility to become operational by the end of 2019, following full consultation with employees and their representatives.

The land is currently owned by Rolls-Royce. Manse and Opus Land, two leading property development companies backed by Palmer Capital, have been appointed by them to lead the promotion and regeneration of the surplus areas of their site. The potential exists to produce a total area of over 2,000,000 sq ft of industrial manufacturing and office accommodation. It is intended to complement and extend the success of the adjacent Ansty Park, by providing land and buildings for the manufacturing community. Rolls-Royce will not be carrying out any property development, but will be retaining a key manufacturing facility on the site, producing fan cases for its large civil aero engines.

David Mitchell and Richard Smith of Manse Opus commented “We are absolutely delighted to be involved in this hugely important move for Meggitt and their choice to come to Prospero, Ansty. We look forward to delivering what must be one of the largest new manufacturing facilities in the UK for a number of years. We believe that this is the first deal of many more to come from businesses that recognise the importance of this location. We also believe that this is the largest manufacturing deal in the Midlands for many years.”

Joint letting agents appointed for the remainder of the scheme are JLL and Knight Frank.

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Author: Amber Rolt

Link to article: http://bit.ly/2nchNZy

Huge first deal at Prospero, Ansty

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