SEGRO has secured a 600,000 sq ft prelet at SEGRO Park Coventry, its 200-acre development site in Warwick District.
DP World Logistics has agreed to take a 598,050 sq ft unit at the park, which offers a total of 3.7m sq ft of new industrial and warehousing space. A 300,000 sq ft prelet to a delivery firm was agreed last year, while SEGRO has committed to building two speculative units of 140,000 sq ft and 220,000 sq ft respectively. They are due to complete in September.
Andrew Pilsworth, SEGRO’s managing director for national logistics, said DP World was a new customer for the REIT and that the deal “further expands the diversity of our customer base and demonstrates demand from customers that are looking for modern, high-quality, sustainable warehouse space in the right locations”.
Denis Doyle, head of UK contract logistics at DP World Europe, said the new site was a “significant step” in the expansion of its logistics offering across the UK.
He added: “We are confident that operating from this site will help us to simultaneously provide a high level of service for our customers as well as build on our strong sustainability values, which saw DP World reduce its carbon output across its operations in Europe by 20% last year compared with 2021.”
Alongside logistics space, SEGRO Park Coventry will also include a 235-acre community park with footpaths, cycle routes and new woodlands and wetlands.
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