MFG signs charging partnership with real estate manager LondonMetric
The collaboration will help the company in its expansion strategy by building new charging hubs in some of its partner’s most successful retail locations.
Motor Fuel Group has announced it has signed a partnership deal with real estate owner and manager, LondonMetric Property Plc. This collaboration represents MFG’s first off-network agreement to build 6-8 bay Ultra-Rapid 150kW EV charging hubs at six of LondonMetric’s long income retail locations. These include Birmingham, Cardiff, Coventry, Glasgow, Ipswich and Liskeard.
“We have already invested significantly and ahead of the curve on EV charging across our own forecourt network. Our intention is to continue to grow and develop a market-leading dual fuel strategy on our forecourts and, at the same time, work with leading real estate owners like LondonMetric to meet the inevitable demand for easy access EV charging from the motorist,” said William Bannister, Chief Executive Officer of MFG.
Through this partnership, the company seeks to increase brand awareness. Regarding its partner, the firm looks to benefit from a zero-capex solution, additional rental income, new on-site facilities and demonstrate a growing support for a cleaner, greener environment. The hubs will offer motorists 100 miles range in approximately 10 minutes, subject to the charging capability of individual car batteries.
“In line with our increasing focus on supporting the transition to a low carbon economy and reacting to the structural changes impacting real estate, this partnership with MFG will provide customers at our sites access to a market leading product; futureproofing them while also driving rental growth. Reflecting the attractive locations of our long income assets, we hope to build on this first phase and progress further installations with MFG across this part of our portfolio,” added Andrew Jones, Chief Executive of LondonMetric’s Property.
MFG is aiming to build a total of 100 EV charging hubs by the end of 2022. The plans involve a £400 million investment programme which will result in 3,000 Ultra-Rapid chargers at over 500 of its forecourts by 2030.
