Electric vehicle drive systems specialist, Magtec, has taken the final two units at the Magna 34 Business Park in Rotherham in a deal brokered by Commercial Property Partners (CPP).
Magnetic Technology Systems Ltd, which trades as Magtec, has agreed terms for both Unit 2 and 3, totalling 64,706 sq ft. A ten-year lease was agreed by CPP on behalf of client Mileway.
Magtec specialises in electrification of vehicle drivetrains and is using its new facilities to scale up production to meet growing international demand for its technology. The properties will be used for the full design, manufacture and integration of its drive systems for both electric and hybrid vehicles.
The company currently employs 125 staff and vacated two older premises in Sheffield and Rotherham to consolidate and expand into Magna 34.
The move represents a multimillion-pound commitment and has already created 30 highly-skilled engineering jobs with more planned for 2022.
Magna 34, located at Templeborough in Rotherham, comprises mixed units totalling in excess of 120,000 sq ft and is already home to Parcelforce, UK Mail and Element Sheffield Ltd.
Max Pickering, surveyor at CPP, said: “Magna 34 is an established business park with a very sought-after location, close to both Sheffield and Rotherham, with easy access to the M1.
“There is still significant demand for businesses seeking well-located space across Yorkshire as Magtec has demonstrated as they now consolidate their growing business to this site.”
Magtec managing director Andrew Gilligan added: “We are delighted to be opening our new factory and proud to be investing in the future of high-tech design and manufacturing in the UK.
“Fears over a climate emergency are driving change across the global transport industry and Magtec is absolutely at the forefront of the technology needed to make it happen. Our new factory gives us the space to grow, increase production volumes and fulfil our potential in this exciting sector.”