Knight Property Group has successfully completed a lease extension and re-gear of TESLA’s existing showroom and workshop facility at AXIS 1 in Wellington Circle, Altens and has leased an adjacent development plot AXIS 2 to run coterminous with the existing showroom facility.
Under the terms of the agreement, Tesla has signed a 10 year lease for the 1-acre Axis 2 site, (formerly the demolished Wellington House location) which sits adjacent to its existing showroom location and regeared its current lease on Axis 1 for a similar period reinforcing its long-term commitment to the area.
The deal marks a key milestone in the continued development and enhancement of the Wellington Circle site, supporting the growth of sustainable transport infrastructure in the region.
Howard Crawshaw, Managing Director of Knight Property Group, said:
“We are delighted to have completed this agreement with Tesla, a globally recognised leader in electric vehicle innovation. This deal reflects both the strength of the location and our commitment to supporting forward-thinking occupiers. Tesla’s expansion at Axis further enhances Altens as a prime commercial destination and provides TESLA with expansion opportunities and flexibility to expand their current operations.
