With a pressing need for EV car charging points to support the increasing number of electric vehicles on the road and relieve “range anxiety”, commercial landlords that can provide WiFi, food and beverage, and toilet facilities on site can make up to £4,000 p.a. per EV charging point by partnering with a Charging Point Operator (CPO). With zero cost options available to landlords and rental agreements typically spanning 20-25 years landlords can achieve a return of between £900,000 to £1.25 million for 8-15 car parking spaces (three EV chargers for every four car parking spaces) over the term of the lease, according to the latest Savills report on the sector “Electric Vehicle Charging: Uncovering the real estate opportunity”.
Bill Bexson, Head of Savills Automotive, says: “Landlords could be missing out on a huge opportunity to make additional revenue at little to no cost to themselves and help speed up the delivery of EV charging points across the UK. While rent per charger is heavily dependent on the quality of the site, landlords who can provide WiFi, food and toilet facilities on their sites, whether they are retail parks, petrol stations, supermarkets, industrial estates, office blocks, or even car dealerships should be considering establishing a public charging hub within their site, or at least charging infrastructure for staff and customers, if they can secure the necessary grid connection.”
“There are numerous benefits for creating a charging hub which includes getting an upgraded site power capacity, the potential for the introduction of solar panels and power storage, increasing footfall to the site which will generate further revenues, and improving the ESG credentials of the property which will enhance value and marketability.”