UK electric van maker Arrival Ltd has expanded again at Link 9 Bicester, which completes the final letting at the major new industrial scheme.
Arrival has acquired a new distribution, production and headquarters building at Unit 1B comprising 168,000 sq ft on the 40-acre Link 9 development near Junction 9 of the M40. Commercial property agents VSL agreed a 15-year lease for landlord RDI REIT Plc.
In June, Arrival revealed its zero-emission bus that it says could transform the public transport industry at a time when it is facing its biggest challenges.
Arrival Ltd’s “Chief of Experience” (editor’s note – I’ve not come across that job title before, but I rather like it), Kwame Nyanning, said: “Arrival’s core focus is to make your every-day experience radically better, whether that is your daily journey on an Arrival Bus, or through your work as a driver delivering parcels from an Arrival Van. We are working with cities to make every touchpoint within the urban transportation ecosystem not only better, but also more equitable and sustainable. Recent events have made it clear the world needs to take action now in order to improve lives and effect real change.”
Arrival’s purchase at Link 9 in Bicester follows on from the acquisition of 120,000 sq ft at Unit 1A Link 9 and the acquisition of a further 30,000 sq ft facility at a neighboring industrial scheme, Unit 6, Network @ Link 9 earlier this year.
Tom Barton at VSL said: “We are delighted to have let the final unit at the highly successful Link 9 Bicester development and pleased to have secured another new facility for Arrival to accommodate their impressive expansion. It’s good to see our client, RDI REIT Plc’s confidence in this scheme repaid with the final Link 9 development being let and fully occupied within 9 months of completion.”
Arrival is headquartered in London with an R&D facility in Banbury, Oxfordshire and further offices in North America, Germany, Israel, Russia and Netherlands.
In January, the company announced that Hyundai Motor Company and Kia Motors Corporation had invested €100 million (£75 million) investment, which the company said made it one of the UK’s largest unicorns (the business term to indicate a privately held startup company valued at more than $1 billion).