Business Secretary Vince Cable opened Volkswagen Financial Services’ (VWFS) new head office in Milton Keynes yesterday (March 11).
The new £36 million office will provide enough space for growth over the next 20 years, according to VWFS, which has seen 40% growth in two years and now has a portfolio size of £11 billion. The move also supports Volkswagen’s worldwide aim to become the number one seller of vehicles by 2018.
The building provides 100,000sq ft over flour floors and comes with the BREEAM (Building Research Establishment Environmental Assessment Methodology) A (‘excellent’) rating.
CEO Graham Wheeler, who unveiled a contemporary plaque, along with Vince Cable, Peter Ammon, the German Ambassador to the Court of St James, and Albert van den Burgh, CFO of VWFS, said: “Our move to the new purpose built site marks the commitment of VWFS to the UK automotive industry and Milton Keynes.
"The new building will allow VWFS to remain close to its sister company, Volkswagen Group, and provide enough space for the company to grow incrementally over the next 20 tears. This would secure the future of VWFS as a major contributor to the economy.”
Secretary of State for Business, Innovation and Skills, Vince Cable, said: "This significant investment in Milton Keynes has already created 350 jobs and is very welcome. Along with the company's ownership of Bentley, it demonstrates Volkswagen's continuing commitment to the UK and is a vote of confidence in the skills of our workforce.
"The availability of finance plays a substantial part in the strong market for new cars in this country and helps contribute to the success of our automotive industry."
The new site features the latest energy efficient technology with 82 solar panels on the rooftop that produce 40,000 KW per year that are sold back by VWFS to the National Grid.
Staff and visitors will also benefit from cycle racks, changing areas and showers, charge points for electric vehicles, encouraging green ways of travelling to work.