Be.EV charges ahead with ‘landmark’ deal

A new partnership will see hundreds of EV chargers rolled out across retail and leisure properties.

Be.EV, backed by Octopus Energy Generation, is investing £20 million to install over 200 ultra-rapid charging bays at 22 properties managed by Schroders Capital. 

Bosses say the chargers will be deployed across sites owned by five Schroders real estate funds, including the Schroder Real Estate Investment Trust and the Schroders Capital UK Real Estate Fund.

They add that the rollout will feature Kempower chargers delivering up to 300kW – capable of adding 325 miles of range in 20 minutes – supporting retail destinations anchored by brands including IKEA, Costa Coffee, Starbucks, Marks & Spencer, McDonalds and Aldi.

Asif Ghafoor, chief executive 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.”

Be.EV will lease the charging hubs on 20-year agreements with index-linked rents, while retailers will benefit from increased customer dwell time. 

Legal agreements for the first three locations are in place, with more set to follow.

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.”

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