SEGRO has signed three new lease agreements for circa 540,000 sq ft of space at SEGRO Park Coventry.
The REIT will develop a 91,000 sq ft build-to-suit warehouse for Volvo Group UK on a 4.7-acre plot at the entrance to the park, DIRKS Consumer Logistics has agreed a pre-let on a 306,000 sq ft warehouse facility and SEGRO has leased a 140,500 sq ft speculatively developed unit to global B2B technology solutions provider GigaCloud Technology. The leases will add an aggregate £6m of new rent.
Once fully developed, SEGRO Park Coventry will provide 3.7m sq ft of industrial and logistics apace on a 73-acre site.
Dan Holford, head of national markets at SEGRO, said: “These lettings reflect the strong momentum we are seeing at SEGRO Park Coventry 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. By providing the right infrastructure in the right locations, developments such as SEGRO Park Coventry create the conditions for globally mobile businesses to invest and grow here, supporting jobs, strengthening supply chains and driving economic growth.”
