Be.EV is investing £20m to roll out more than 200 ultra-rapid EV charging bays across Schroders Capital’s UK retail portfolio.

L-R: Asif Ghafoor, CEO of Be.EV, with Matthew Baddeley, lead asset manager at Schroders Capital

The bays will be installed at 22 retail and leisure parks managed by Schroders Capital, enhancing their appeal to EV drivers. Legal agreements have been exchanged on the first three locations, with further exchanges expected imminently.

The investment will see Be.EV fully fund the installation and maintenance of the charging solutions at sites managed by five Schroders Capital real estate funds, including Schroder Real Estate Investment Trust and Schroders Capital UK Real Estate Fund.

The ultra-rapid Kempower chargers will be capable of charging at up to 300kW, making them able to of deliver up to 325 miles of range in as little as 20 minutes.

The new chargers are expected to have a significant positive financial impact on retailers at Schroders Capital’s sites. A survey last year found 57% of drivers who use a public charger will go shopping or visit a cafe while charging their vehicle.

The charging hubs, the majority featuring six to 12 charging bays, will be leased on a 20-year agreement with index-linked market rents, reflecting the commitment from both Schroders Capital and Be.EV to sustainable infrastructure development.

Be.EV – majority-owned by Octopus Energy Generation’s £1.5bn Sky Fund, which has pledged £110m of funding – said the partnership cements its position as a leading, nationwide charge point operator, supporting landlords in future-proofing their assets by bringing convenient, ultra-rapid charging to their shoppers.

Asif Ghafoor, CEO of the charging firm, said: “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 that EV charging brings.”

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 Schroders Capital’s retail warehouse portfolio.”