Defence technology firm Rheinmetall Electronics UK has acquired a major commercial site in Ryde as part of ambitious expansion plans on the Isle of Wight.
The substantial Nicholson Road premises, known as The Green House, had been on the market for £2.9million – but is now confirmed as sold by commercial property agent Scotcher & Co.
The 40,000ft² property includes extensive office and warehouse accommodation, laboratories and production space, alongside more than 60 parking spaces.
It has now been revealed that Rheinmetall Electronics UK, which is already headquartered at St Cross Business Park in Newport, is behind the acquisition as the company looks to significantly expand its presence on the Isle of Wight.
The firm develops defence electronics and technology used across a number of military programmes, including systems associated with the British Army’s Challenger 3 main battle tank and Boxer Mechanised Infantry Vehicle.
As previously reported by Island Echo, Rheinmetall has recently secured a share of a contract worth just under €1billion as part of the Army Collective Training System.
A Rheinmetall spokesperson has today (Monday) said:
“Rheinmetall Electronics UK has this month taken possession of a new building for their Headquarters and main operations on the Isle of Wight.
Article continues below this advertisement “The building in Ryde will house its production, operations and business support teams, relocating their current leased facility in Newport. The company will now begin a period of redesign and fit out to tailor the premises to their manufacturing needs prior to occupation.
“Rheinmetall Electronics UK are proud to make this investment as part of its growth and expansion plans. The company continues to create high-value careers, investing in staff and sourcing material, goods and services from the local community.”
Rheinmetall Electronics UK can trace its local operation back more than 25 years, with the business originally established as RFEL in 1999 before being acquired by Rheinmetall in 2009.
