Schroders Capital has partnered with Be.EV to deliver more than 200 ultra-rapid EV charging bays across 22 retail and leisure properties.
The £20 million investment will see Be.EV fully fund the installation and maintenance of charging solutions at sites managed by five Schroders Capital real estate funds, including Schroder Real Estate Investment Trust and Schroders Capital UK Real Estate Fund.
Be.EV will install ultra-rapid Kempower chargers (up to 300kW) capable of delivering up to 325 miles of range in as little as 20 minutes on retail and leisure parks, where retailers include Sainsburys, Aldi, Lidl, Costa Coffee, KFC, McDonalds, Nandos, Pizza Express, Starbucks, Marks & Spencer and IKEA.
Be.EV is majority-owned by Octopus Energy Generation’s £1.5 billion Sky Fund, which has pledged £110 million of funding.
The charging hubs, which will feature six to 12 charging bays, will be leased on a 20-year agreement with index-linked market rents.
Legal agreements have been exchanged on the first three locations, with further exchanges expected imminently.
Asif Ghafoor, CEO of Be.EV, said:
“Like the thousands of drivers who use our network each day, Be.EV is going places.
“This is a landmark deal for Be.EV and we are excited to help the big brands who occupy the retail parks in Schroders portfolio benefit from the increased footfall benefits EV charging brings.
“I would like to congratulate all the team at Be.EV for their hard work in securing this important deal.”
Matthew Baddeley, Lead Asset Manager at Schroders Capital, added:
“Improving the UK electric charging network is essential in supporting the UK’s energy transition goals, whilst it also aligns with our own net zero targets.
“Be.EV’s offering is highly compelling and we look forward to welcoming them to the Schroders Capital’s retail warehouse portfolio.”
Image courtesy of Be.EV/Schroders Capital
