The business will relocate from its current site at Abbey Works in Fareham – the town it has called home for decades – to a Grade A manufacturing facility at Daedalus, Faraday Business Park.
Strategic Long-Term Lease and Sustainability Goals
Royal London Asset Management (RLAM) Property, which also owns Abbey Works, recently acquired the nine-acre Daedalus site from Fareham Borough Council and will lease it to Eaton under a 20-year pre-let agreement.
RLAM will develop the new facility in collaboration with Graftongate, with construction set to begin next month.
It is expected to be ready for occupancy in September 2026 and will target BREEAM Outstanding and EPC A+ ratings for sustainability.
Eaton's Commitment to Innovation and Local Economy
Matt Price, general manager of Eaton's fuel systems business unit, said: "Eaton is delighted to formalise our commitment to our new site at Daedalus with the signing of the long-term lease.
"The new facility represents a significant investment for Eaton in our fuel systems business, ensuring we retain our market-leading competitive position through the implementation of cutting-edge technology and production systems.
"It demonstrates our commitment to our employees, our customers, the local area and the wider UK manufacturing base."
Community Impact and Local Support
Cllr Simon Martin, executive leader of Fareham Borough Council, said: "I am delighted that we will be welcoming RLAM Property and their occupier, Eaton, to Daedalus.
"Eaton has been a major employer in Fareham for decades, so it is really good news that we are retaining them in the area.
"Daedalus is our largest dedicated employment site and already home to hundreds of jobs. The addition of the Eaton workforce comprising hundreds more is great news for everyone."
Complex Transaction and Industry Confidence
Alex Davies, an investment director in CBRE's Southampton team, added: "The sale of Abbey Works and the acquisition of the new facility in Fareham presented a rare opportunity to deliver high-quality, sustainable space in a high-demand but low-supply area.
"This was a highly complex transaction that has taken many years, and we are pleased to see Eaton make this significant investment in the long-term future of their business."
Expert Advisors and Smooth Transition
RLAM Property was advised by Pinsent Masons on the transaction. Eaton received advice from CBRE and Eversheds Sutherland, while Fareham Borough Council was advised by Realest, Lambert Smith Hampton and Womble Bond Dickinson.
