Panattoni’s Acquisition Of Honda’s 370 Acre Swindon Site

In UK Ashurst, advised on the matter.

Ashurst advised Panattoni Europe with a team including Melanie Jordan (Picture – Real Estate), Ben Patton (Real Estate), Simon Swann (Tax M&A and Deal Advisory).

Originally purchased by the Japanese car manufacturer in 1985, Honda will cease production at the UK plant in July 2021, at the end of the current model cycle of the Civic Hatchback. 

Following the end of production on 30 July 2021, Honda will immediately commence the decommissioning of the Swindon site. The site is anticipated to be legally handed over in Spring 2022, and once the necessary consents have been obtained, Panattoni will start regeneration and redevelopment shortly thereafter.

As part of its continued efforts to leave a positive legacy in the local community, Honda will assess opportunities for small sections at the edge of the site that are not required for Panattoni’s development to be utilised by the neighbouring communities.

Panattoni will now commence all necessary planning work with Swindon Borough Council, with support from Honda.

The Ashurst team was led by partner Melanie Jordan (Picture), assisted by senior associate Victoria Clarke. Construction partner Ben Patton and tax partner Simon Swann also advised.
 

Involved fees earner: Victoria Clarke – Ashurst; Melanie Jordan – Ashurst; Ben Patton – Ashurst; Simon Swann – Ashurst;

Law Firms: Ashurst;

Clients: Panattoni Europe;

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Author: Giulia Di Palma

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