Stockport offers best potential returns on EV investment, finds CBRE

Global real estate group, CBRE, has named Stockport the number one location in the UK for potential electric vehicle (EV) charging infrastructure investment.

CBRE forecasts have been based on predicted demographics, local economic activity, car ownership and EV uptake rates, and identified Stockport as offering the best opportunity for investment returns of any UK local authority area, ahead of much larger and economically productive places, such as Leeds and Milton Keynes.

The top ten locations in CBRE’s ranking are:

1. Stockport
2. Swindon
3. Leeds
4. Milton Keynes
5. Windsor and Maidenhead
6. Slough
7. South Gloucestershire
8. Wiltshire
9. Peterborough
10. Renfrewshire

The property giant estimates that EV charging will generate £10-12 billion of consumer spend and around £1 billion in rent across the UK in 2035, based on current trends, with the necessary investment needed to meet demand coming from contributions from both the private sector and local government.

CBRE’s study found that public institutions such as local authorities and NHS trusts could also stand to enjoy financial returns from installing charging points or leasing spaces to other providers, as well as private property investors and owner-occupiers.

With government legislation mandating that all new cars must be emission-free from 2035, CBRE’s analysis indicates that the UK will require at least 190,000 charging points to efficiently fuel the EV transition. 

Stockport gained the top spot thanks to its rapid growth in EV uptake, with more vehicles (including plug-in hybrids) in the borough than any other local authority, 127,904 as of the end of 2023. Swindon and Leeds have also made the ranking thanks to high levels of EV ownership, with growth in all three locations fuelled by company-owned vehicles.

Aitor Luengo, Roadside & Automotive at CBRE UK, commented:

“With an increasingly narrow window to meet the UK’s net zero goals, EV charging points must now be viewed as critical infrastructure in the same way as any other utility,” said . “Both businesses and the public expect ‘park and plug’ solutions at virtually every location from supermarkets to places of work. While significant investment is urgently needed, investors acting now will benefit from opportunities with great returns in both income and capital values.”