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Segro PLC on Friday announced that it completed a £120 million acquisition of 419 hectares of land at the location of the former Radlett Aerodrome in the Upper Colne Valley in Hertfordshire. The owner, asset manager and developer of warehouse and industrial properties said the acquisition paves the path for a new rail freight terminal and logistics scheme, expecting work to start on site in summer this year with the initial focus on creation of the rail connection and preparing the site for development. The development will include a 247-hectare country park surrounding the terminal. Chief Executive Officer David Sleath said: ‘The former Radlett Aerodrome site offers a rare opportunity to bring together the economic and environmental benefits of rail freight, provides connectivity to key arteries of the highways network and access to a large pool of employees. The scheme will also benefit the national and local economies, as well as help satisfy the demands of consumers and businesses for the sustainable movement of the goods and services we increasingly rely on in our daily lives.’ Segro shares were 0.6% higher at 715.17 pence each in London on Friday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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