Motorway services operator Moto is to roll out a £500m improvement package targeting EV charging, HGV driver facilities and hospitality improvements after signing a 75+ year lease renewal with the government for 10 key sites.
The lease extension, agreed with the Department for Transport and motorway-management organisation National Highways, has given Moto the certainty it needs to commit to what it terms a “landmark” investment package.
The firm, which operates 70 sites, plans to quadruple the 1,000-plus EV chargers it already hosts at its services, and says it has a “roadmap” to open 15 “superhubs” featuring 100 bays for electric HGVs, which are set to be mandated across 2035 and 2040.
In addition to the expansion to EV charging facilities, the UK company, which is owned by the Universities Superannuation Scheme pension scheme and Jersey-based private equity firm CVC Capital Partners, will improve parking, security and washroom facilities for HGV drivers, while also rolling out new food and retail offerings at its MSAs.
Moto’s chief executive, Ken McMeikan, says the 75-plus-year lease extension provides the “long-term certainty” needed to “unlock our planned £500m investment programme”, which follows £300m the firm has spent over the past five years. The lease renewal echoes a similar deal announced by rival firm MSA Roadchef earlier in the year.
McMeikan adds: “This planned investment is fantastic news for our customers as we continue to upgrade existing facilities, provide even greater choice of food and drink brands, provide world-class EV charging infrastructure and open new Motorway Service Areas and truck stops.”
Keir Mather, Under-Secretary of State in the Department for Trasport says “it’s great to see businesses like Moto powering up the UK’s electric revolution”, while Elliot Shaw, chief customer and strategy officer at National Highways, says his organisation is “proud to have secured this long-term lease agreement with Moto”, adding that the deal “shows our continued commitment to managing public assets wisely and making sure they benefit everyone”.
