The West Midlands has chosen SEGRO as a strategic partner, with a commitment to invest £2bn in the region over the next decade.
Under the deal struck by the West Midlands Combined Authority, led by metro mayor Andy Street, SEGRO will aim to deliver 13.5m sq ft of next-generation, net-zero warehouse facilities by the end of 2033.
SEGRO also plans to relocate its national logistics business unit to Coventry city centre.
SEGRO’s development pipeline for the region will be focused on tech-enabled logistics facilities as well as purpose-built space for research and development and light manufacturing.
The investment will be focused on a mix of warehousing types across the region. This includes the development of SEGRO Park Coventry – a 450-acre site that has planning permission for 3.7m sq ft of industrial buildings.
SEGRO chief executive David Sleath pointed out the need for such a commitment. “There is a long-term shortage of modern, sustainable industrial employment space in the West Midlands, which is vital to enable the efficient movement of goods across the country, and to support high-tech research and development and manufacturing.”
The deal comes on the back of the WMCA securing a “trail-blazer” deeper devolution deal with central government in March.
The combined authority has already established a series of strategic partners which share its vision and purpose and want to invest and develop in the region.
Under the 10-year programme, SEGRO will also install around 2,700 electric vehicle charging points at its developments across the region, and it plan to run training programmes to support 5,000 local young people into employment and provide a further 1,000 apprenticeship opportunities in construction.
Sleath added: “By working closely with the West Midlands Combined Authority, we can identify and unlock brownfield sites for development and deliver critical infrastructure that serves the whole of the UK, creating a diverse mix of local employment and supporting the creation of a more resilient economy across the country.”
West Midlands mayor Andy Street said: “SEGRO becoming a strategic partner is another welcome vote of confidence in our region and the investment programme they have committed to today is testament to their level of belief in a bright future ahead for the West Midlands. It is exactly this kind of private sector investment – combined with the public sector creating the right conditions – that will ultimately drive our prosperity in the months and years ahead.
“SEGRO’s investment programme will help regenerate long-neglected areas right across our region – building just the sort of modern premises that companies need to grow.”
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