JAGUAR Land Rover has announced it will remain at its Ellesmere Port site for another five years.

The company will pay £2.6m a year after renewing its lease for the 440,000 sq ft unit.

The large distribution warehouse is located on a 21-acre site and will continue to be fully let to Jaguar Land Rover.

It lies adjacent to Junctions 6 and 7 of the M53 motorway which, in turn, provides access to the M56/M6 and national motorway network. 

Alice Murray, Associate Director, Clearbell Capital LLP, said: "This major lease renewal with an extremely strong covenant is a fitting testament to the team’s intensive asset management of the space and our collective efforts to ensure that it meets the needs of tenants.

"On top of this, the long-term commitment from such an iconic household name like Jaguar Land Rover represents a real vote of confidence in the unit."

The deal was announced after Jaguar Land Rover revealed its full-year results at the end of last week.

Jonathon Ellerington, Senior Investment Manager, Barwood Capital, said: "Having identified the property’s reversionary potential on acquisition, this lease renewal to Jaguar Land Rover is a significant achievement and a testament to the strong fundamentals of the sector."