Working with both potential and existing customers to find the best outcome for their current and future business ambitions is an important part of what we do. So, when LEVC (London Electric Vehicle Company), the leading manufacturer & retailer of electric commercial vehicles, came to us looking for help expanding its current building, we took the time to understand the company’s needs and plans for growth.
The Coventry-headquartered manufacturer, famous for its black London taxi cabs, has ambitious plans to grow its product range, export markets and employment opportunities and needed more space in Coventry to help it achieve these aims.
We knew that LEVC needed to find additional space quickly and helped them explore various leasing and development options. Unfortunately, developing a freehold building close to their existing building was unfeasible due to both a lack of development land and their immediate need for space. That’s why we recommended the company explore leasing a facility with us instead.
The COVID-19 pandemic has seen our existing customers experience mixed fortunes. Many ecommerce retailers, for example, have seen demand for their products increase, whilst others in the events and hospitality sector have suffered losses and been forced to rationalise their business models.
At the same time LEVC was looking for additional space, an existing customer, with a building on a nearby Prologis Park, was looking to downsize. With rental payments mounting and 8.5 years left remaining on their lease, however, a solution was not immediately obvious.
This is where our experienced and dedicated in-house team were able to use their skills to help both customers find a mutually beneficial solution. After all, looking after our customers is as much about helping them during times of difficulty as it is about helping them during times of growth and opportunity.
Working with both customers, our team was able to structure an agreement where the customer wishing to downsize – part of a larger global company with whom we have a longstanding relationship across our global business – was able to reassign its remaining lease term to LEVC and vacate the building quickly, without additional cost.
This allowed LEVC to move into a 170,000 square foot building on Prologis Park Ryton, within a relatively short period of time. Furthermore, the company’s new building is less than ten miles from its existing building. The new facility is also within the city of Coventry, which has a proud automotive history, with the sector making up 90% of the city’s jobs and an aspiration to be at the forefront of the UK’s move to vehicle electrification.
“It’s great to work with solid professionals who encourage the importance of a mutually beneficial relationship.”
Lee Boyce, Director Manufacturing Engineering, Facilities, Maintenance & Premises at LEVC