New owner for Honda's car plant in Swindon CONFIRMED
The Japanese firm is being replaced by a real estate development business
Last updated 26th Mar 2021
A new owner has been unveiled for Honda's car plant in Swindon.
The real estate development company 'Panattoni' has bought the site and pledged to invest ÂŁ700 million to regenerate it.
Honda has also confirmed it's ending production in our region at the end of July, before decommissioning the 370-acre facility and handing it over legally in Spring 2022.
In a statement, the Japanese manufacturer said it was "committed to leaving the site in a responsible way, with a sustainable legacy for Swindon".
'Exciting prospects for Swindon'
Jason Smith, Director at Honda of the UK Manufacturing, added: “We are pleased to have identified a capable new owner of the site.
"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.”
Swindon Borough Council's Leader has also responded to the announcement:
Who is Panattoni?
According to its South Marston predecessor, Panattoni is "Europe's largest developer of new build industrial and logistics facilities".
The business has developed more than 430 million sq ft of land across the world to date.
Whilst its global Headquarters resides in California, Panattoni's UK presence is seemingly growing.
The company also recently received approval to roll-out 1.9 million sq ft of warehousing space in Kent.
James Watson, Panattoni's Development Director, has given his reaction to the South Marston takeover: “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".
'Thousands of new roles'
Panattoni says the plant's redevelopment will create "thousands of new opportunities in roles which underpin the operation".
Many will see the announcement as a boost to the local economy, which took a major blow when Honda confirmed it was leaving South Marston in February 2019.
The car manufacturer claimed the decision was due to its desire to launch electric vehicles, as well as worldwide changes to the car industry.
A government taskforce has since been launched, supporting around 3,000 Swindon workers who are expected to be made redundant once Honda ends production.
'These jobs need to come to Swindon'
Unite the Union, which represents a significant proportion of staff at the car plant, has also responded to the announcement.
The Trade Union says it "cautiously welcomes" the sale. However, it has urged the government, Honda and Panattoni to ensure that manufacturers are "given every incentive to make the site their home".
“Swindon and the whole of the South West have a proud manufacturing legacy," Unite regional secretary for the South West, Steve Preddy added.
“These jobs need to come to Swindon and Unite will be knocking on every door and exhausting every avenue to make sure that they do".