Macquarie Goodman has completed the purchase of Jaguar’s Browns Lane manufacturing plant in Coventry
As revealed by Property Week (news 15.12.06), the Australian logistics giant has completed a deal to buy 100 acres (40ha) of the 117 acre (47ha) site which was home to Jaguar production since 1951. It has completed the deal in a joint venture with Stoford Developments.
Macquarie Goodman is thought to have paid around £27m for the site. The company is planning to develop up to 1.2m sq ft (111,482 sq m) of warehousing and offices. Jaguar will retain 17 acres (7ha) for its wood veneering facility.
Work is expected to start on site as early as 2008.
The Brown’s Lane site previously accommodated a workforce of 3,500 staff. It is expected that the new development will bring 1,500 staff to the site. Jaguar’s wood veneering facility will maintain 400 jobs.