Japanese car manufacturer Honda is selling its Swindon site to Panattoni, the European industrial and logistics facilities developer.
Honda today announced it has entered into a contract for sale of its 370-acre site in Swindon. The site was originally purchased by the Japanese car manufacturer in 1985.
In 2019, Honda Motor announced a restructuring of its global automobile manufacturing operations, which included the cessation of production at the UK plant in July 2021, at the end of the current model cycle of the Civic Hatchback.
Following the end of production on 30 July 2021, Honda will immediately commence the decommissioning of the Swindon site.
The site is anticipated to be legally handed over in spring 2022, and once the necessary consents have been obtained, Panattoni will start regeneration and redevelopment shortly thereafter.
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“We are pleased to have identified a capable new owner of the site. From our engagement with Panattoni and initial discussions with Swindon Borough Council, we are confident that the new owner can bring the development forward in a commercially timely fashion and generate exciting prospects for Swindon and the wider community,” said Jason Smith, Director at Honda of the UK Manufacturing.
“Panattoni is committing to invest over £700 million into the site to attract new employers and provide for existing businesses looking to expand in Swindon. We will be working very closely with Honda and Swindon Borough Council, along with the community and its representatives to regenerate the site,” said James Watson, Development Director for Panattoni.
“The acquisition of the 370-acre Honda facility demonstrates our capabilities to work at scale. The re- development of this strategic employment site will deliver thousands of new opportunities in roles which underpin the operation of the local and regional economy,” said Matthew Byrom, Managing Director of Panattoni in the UK.
“The new opportunities outlined by Panattoni will be a major step in Swindon’s rejuvenation following Honda’s exit. Their investment offers a significant boost to the local economy and we are excited by the prospect of this redevelopment creating thousands of jobs for Swindon and the surrounding area. We already have a strong working relationship with Panattoni following their recent development of the adjacent site, Symmetry Park, and look forward to working with them over the next year. We understand that Honda’s key aim was to identify a responsible new owner and I believe today’s announcement demonstrates that,” added Susie Kemp, Chief Executive of Swindon Borough Council.