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Segro PLC on Wednesday said it has signed three new lease agreements in Coventry, England. The London-based warehouse landlord, which has recently been fending off takeover interest from US rival ProLogis Inc, said the leases cover around 540,000 square feet of space at Segro Park Coventry. It expects the site, once it is fully developed, to offer 3.7 million square feet of industrial and distribution space. Segro said 1.7 million square feet have now been leased, with customers including Germany’s DHL Group and the UAE’s DP World. The new agreements are pre-lets to Volvo Group UK and Dirks Consumer Logistics and a lease to GigaCloud Technology on a speculatively developed warehouse. Segro said it will develop a 91,000 sq ft build-to-suit warehouse as a distribution centre for Volvo, which it expects to become operational early next year. Dirks, a UK supply chain solutions company under Germany’s Dirks Group, has pre-let 306,000 sq ft with the development set to complete in the first half of 2027. Business-to-business technology solutions provider Gigacloud, meanwhile, has leased ‘an entire 140,500 sq ft speculatively developed unit’. Segro expects the leases to add £6 million in new rent, which Segro said was included in the £53 million of new headline rent reported in its trading update last week. ‘These lettings reflect the strong momentum we are seeing at Segro Park Coventry,’ commented Segro Head of National Markets Dan Holford, ‘and this demand is not limited to this site: we are seeing similarly positive activity across our UK big box portfolio, underlining the continued need for high-quality, well-connected space in the right locations. ‘They also demonstrate the important role Segro plays in attracting and enabling international investment into the UK and the West Midlands.’ Shares in Segro were 0.1% higher at 861.20 pence on Wednesday morning in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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