SEGRO has acquired a 450-acre site adjacent to Coventry Airport to build a £400m industrial scheme.
Gateway South in Coventry has planning consent to develop 3.7m sq ft of industrial and warehouse buildings, a new road and a 230-acre community park.
SEGRO is purchasing the interests from Rigby Group and Roxhill in a move to grow its footprint in the East Midlands.
It is located to the south of the city and the A45, with close links to motorways including the M6, M69, M40 and M1.
Remediation of the former sewage works and post-war landfill site will begin this month. The development is expected to complete in early 2023.
Andrew Pilsworth, business unit director at SEGRO, said: “Gateway South Coventry is a truly excellent location. It’s well connected, close to major population centres and it’s one of a small number of sites that can accommodate our long-term vision of creating a high-quality industrial and logistics park.”
The acquisition follows SEGRO’s recent restructure in response to demands from changing technology. The shuffle saw chief investment officer Phil Redding announce his exit, with chief financial officer Soumen Das to oversee a new division covering strategy, investment and innovation.
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