London, 6th November 2018 – M7 Real Estate Ltd (“M7”), the pan-European real estate investment and asset manager, is pleased to announce that it has entered into a partnership with Engenie to install electric vehicle (EV) rapid chargers across a number of M7’s out of town retail warehouse car parks, which is estimated to remove over 2.5 tonnes of harmful NOx from UK roads .
The innovative 15 year partnership, which involves a profit share model based on gross profit, forms part of M7’s long term environmental strategy for its UK managed funds to future proof its portfolio and to drive individual asset performance. Sustainable electric charging infrastructure will initially be introduced at eight locations and will ensure both occupiers and stakeholders can access 100% renewable energy for electric vehicles.
Engenie successfully secured significant investment from Investec which will see its network grow to 1,500 rapid chargers across the UK by 2021 . Engenie’s charging points are accessible, easy-to-use, require no membership or connection fee and operate a simple contactless payment and pay as you go per-kWh pricing model.
John Murnaghan, Head of UK Real Estate, commented: “The forward thinking development of Engenie’s rapid charging infrastructure ties in with M7’s environmental ambitions seamlessly as well as complementing M7’s view on the growing importance of the electric vehicle market. As our retail warehouse assets under management continue to grow, so has the demand from our customers for this technology. This partnership presents a compelling opportunity to help both future proof our retail park portfolio as well as to enhance the performance of these assets whilst enhancing the consumer choice on site.”
Patrick Sherriff, Engenie’s Business Development Director, said: “Partnering with M7 to offer their customers rapid EV charging is a significant step towards our aim to build a public charging network across the UK. M7’s retail parks are a perfect fit for rapid chargers, giving EV drivers the convenience of re-fuelling whilst they shop and eat. Both M7 and Engenie take a long-term approach and have strong business commitments to improving the environmental impact of operations. We are looking forward to working closely with M7 to deliver the technology that will enable clean transport.”