Our heritage

A brief history of SEGRO from 1920 to the present day.

1962

Slough Estates moves into Belgium with the acquisition of a site at St. Niklaas.

1950

Slough Estates Canada Ltd is incorporated. Its first acquisition is in Ajax, Toronto and it subsequently expands into Montreal and Vancouver.

1949

Slough Estates Australia Pty Ltd acquires over 600 hectares of land to the west of Melbourne and subsequently expands into Sydney.

1948

The Slough Industrial Health Service is set up to provide occupational health support to the 16,000 employees in the Slough area. It continues today as Corporate Health.

1937

The Slough Community Centre is opened to provide recreational facilities and to foster social, educational and cultural interests. Today the Community Centre is run by Slough Borough Council.

1931

The Company acquires its second estate, the 22-hectare Kings Norton Metal Works. The estate, which lies five miles south of Birmingham city centre, is now known as Kings Norton Business Centre.

1926

The Company changes its name to Slough Estates Ltd to reflect the changing direction of the business.

1920

The Slough Trading Company Ltd, a syndicate of businessmen led by Sir Percival Perry (later Lord Perry) and Noel Mobbs (later Sir Noel Mobbs), acquires the 243-hectare site on the Bath Road at Slough together with 170,000 sq m of workshops and all the World War I vehicles parked there and abroad, together with those which became surplus to the UK Government's requirements over the next two years.

 

 

1999

Slough Estate acquires Percy Bilton plc with its extensive UK industrial portfolio. 

1986

Bredero Properties is acquired and, with it, a portfolio which includes the Centre West office development at Hammersmith and 50 per cent of the Buchanan Galleries retail development in Glasgow.

1985

Slough Estates acquires Helmlace whose portfolio includes development sites at Winnersh Triangle near Reading, Basingstoke and in the City of London.

1984

Slough Estates merges with Allnatt London Properties plc and Guildhall Properties plc, which have portfolios concentrated in West London.

1974

Slough Estates undertakes its first developments in Germany in Cologne and Hanover.

1973

In partnership with Draper and Kramer, Slough Estates expands into the USA, with developments in Chicago and later Fort Lauderdale and San Diego in California.

1972

The Company undertakes its first developments in France in Colombes and Bures Orsay near Paris.

2009

SEGRO sells its 50% stake in its shopping centre joint venture with Tesco to British Land for £26.9m.

SEGRO successfully launched and priced an issue of £300 million of unsecured bonds.

The Board of SEGRO announces that it had reached agreement with the Board of Brixton on the financial terms of a recommended offer for the entire issued and to be issued share capital of Brixton.

SEGRO successfully completed a 12 for 1 fully-underwritten Rights Issue of 5,240,650,704 shares, raising net proceeds of £500 million.

SEGRO signs agreements with syndicate banks and bilateral lenders to permanently increase the maximum gearing covenant in these facilities from 125% to 160%.

SEGRO announces the completion of a major deal to lease our LHR1 logistics distribution unit near Heathrow Airport to Geodis Wilson UK Ltd. This is the single largest letting in the Heathrow area in over two years.


2008

SEGRO secures major letting deal with Fluor Ltd for 210,000 sq ft pre-let to build their new UK headquarters at IQ Farnborough.

SEGRO wins Property Marketing Awards 2008, Industrial and Distribution Award for Heywood Distribution Park.

SEGRO wins Property Marketing Awards 2008, Corporate Marketing Award.

SEGRO wins Property Awards 2008, International Property Achievement Award.

The Bath Road Retail Park in Slough, located within the south-west corner of SEGRO's Slough Trading Estate, is sold to The Crown Estate for £92m.

SEGRO wins Industrial Developer of the Year at the 2008 EG awards.


2007

A partnership agreement is signed with the Berlin Airport Authorities to develop a business and 230,000 sq m logistics park on a 38-hectare land site next to the planned Berlin Brandenburg International Airport terminal in Schönefeld

In Germany, the €113m sale and leaseback agreement with MPM (Mannesmann Plastics Machinery) on three industrial sites at Munich, Nuremberg and Hanover, marks SEGRO's first move into the target market of Munich.

Slough Heat & Power, the power generation operation based on the Slough Trading Estate, is sold to Scottish and Southern Energy plc, one of the largest energy companies in the UK

SEGRO acquires 70,689 sq m business park in Vimercate, north-east Milan for €84.5m.

The $2.9bn disposal of SEGRO's US property business completes a major strategic repositioning that began in 2004, transforming the Company into an investor and developer of Flexible Business Space across Europe.

Expansion of the cluster of properties around Heathrow Airport continues with the acquisition of the Airlinks Trading Estate in Heston for £31m.

SEGRO's largest ever transaction in Continental Europe, the sale and leaseback from Neckermann.de (a KarstadtQuelle group company) of a major office and distribution campus in Frankfurt, for €197m.

Slough Estates introduces its new name and corporate identity, SEGRO

The Company becomes a UK-REIT (Real Estate Investment Trust) with effect from 1 January 2007.

 

2006

A portfolio of logistics and light industrial properties is acquired from Antalis in a pan-European sale and leaseback agreement that encompasses 177,120 sq m of space and 41 hectares of land, and allows Slough Estates to enter new markets in Spain and Italy.

The Treforest Industrial Estate in Cardiff, Wales is acquired. 

Slough Estates' acquisition of Grontmij Real Estate International's developments moves the Company into distribution-related developments in Hungary, Poland and the Czech Republic.

 

2005

A sale & leaseback is agreed with KarstadtQuelle AG on its extensive, non-retail portfolio, providing 296,000 sq m of business space and more than 38 hectares of development land throughout Germany.

A sale & leaseback is agreed with Alstom Power (part of the French industrial group, Alstom) on its 11-hectare headquarters site in La Courneuve, Ile de France, Paris.

Slough Mainland, a joint venture between Slough Estates and Mainland, a Netherlands-based developer, is established, with developments based in the Schipol area.

The Woodside Industrial Estate in Dunstable and Heywood Distribution Park in Manchester are acquired.


2004

In a portfolio swap, Slough Estates exchanges the majority of its retail developments with Land Securities in return for its industrial developments.

In the UK, the Company enters into the joint venture HelioSlough with the specialist distribution development company Helios Properties.

2011

December

SEGRO with new joint venture partner, Moorfield Real Estate acquires the UK Logistics Fund for £314.7 million.  The UKLF has 14 prime logistics warehouse units plus one development site in 12 locations cross the UK.

SEGRO named as Property Company of the Year – Industrial & Distribution, for the third successive year by Estates Gazette.

September

SEGRO announces the sale of a portfolio of six industrial estates to Legal & General for £38.2 million.

Two pre-lets agreed in Poland for 39,300 sq m. So far in 2011, SEGRO now has 25 projects either contracted or under construction.

SEGRO is named Property Company of the Year and awarded Deal of the Year, under 50,000 sq ft, for its work with GeoPost at Southall by the Industrial Agents Society.

May

SEGRO signs the biggest pre-let in the Heathrow market for five years to construct 9,900 sq m for DB Schenker.

Justin Read appointed as Group Finance Director. Justin joins from Speedy Hire plc.

April

SEGRO signs a new 32,300 sq m pre-let facility for Alcatel Lucent on a 10 year lease at its EnergyPark, Vimercate, Italy .

David Sleath, takes over as the new Chief Executive, following the retirement of Ian Coull.

2010

24 December 2010
SEGRO completes the disposal of the Treforest Industrial Estate near Cardiff to Hansteen Property Unit Trust (HPUT) for £27.7 m.

16 December 2010
SEGRO announces the appointment of David Sleath as Chief Executive in succession to Ian Coull, who will retire from the Board following the AGM on 28 April 2011.

 

13 December 2010
SEGRO completes the sale of the Westcore Industrial Portfolio to leading fund manager Hermes Real Estate, acting on behalf of the British Telecom Pension Scheme, for a total consideration of £79.25 million.

22 November 2010
SEGRO wins National Property Company of the Year Award and Ian Coull is presented with the Estates Gazette Outstanding Contribution to Property Award at the EG Awards.

15 October 2010
Chief Executive, Ian Coull announces he is to retire from the business during the course of 2011.

22 June 2010
SEGRO completes acquisition of BAA's 50% stake in Airport Property Partnership and agrees to sell £237m of assets to APP.

27 April 2010
SEGRO announces it has exchanged conditional contracts for the acquisition of BAA's 50% interest in the Airport Property Partnership (APP) for £111.3m cash. APP is a 50/50 joint venture with Aviva Investors, focused on airport-related industrial assets in and around major UK airports. By value, 73% of the assets are located in the Heathrow market.

13 April 2010
Andrew Gulliford is appointed as Managing Director, Continental Europe having been at SEGRO for 6 years.

4 March 2010
Lord Blackwell and Stephen Howard retire as non-Executive Directors with effect from the Board at the Company's AGM on 29th April 2010 following nine years of service and in line with corporate governance best practice. Two new non-Executive Directors are appointed; Doug Webb, Chief Financial Officer of the London Stock Exchange Group plc since June 2008, and Mark Robertshaw, Chief Executive Officer of The Morgan Crucible Company plc since August 2006. The appointments are effective from 1 May 2010 and 1st June 2010 respectively.

2013

April
The Airport Property Partnership (APP), a joint venture between SEGRO and Aviva Investors, started construction of an 85,700 sq ft development for two new facilities at the North Feltham Trading Estate at Heathrow Airport.  Having successfully secured a 69,670 sq ft pre-let to logistics services provider, Toll Global Forwarding (UK) Limited, for their new UK headquarters, APP has now started to build this new development. A ground breaking ceremony took place on 9th April 2013 to celebrate the occasion, attended by senior executives from SEGRO, Aviva Investors and Toll Global Forwarding

SEGRO acquires Zeran Park II in Warsaw for €43.2 million (£36.9 million) from AREA Property Partners and Apollo-Rida Poland. Zeran Park II, developed between 2005 and 2011, comprises modern warehouses used for urban distribution and a small office totalling 49,900 sq m of lettable space, located next to the Trasa Torunska ring road, approximately 10 km from Warsaw city centre.

February
SEGRO’s development at Tulipan Park Poznan won the Prime Property Prize Wielkopolska 2013 for the best logistics and warehouse facility at the awards ceremony organised by the Polish property press, propertynews.pl on 19th February.  Tulipan Park was recognised for the high quality of its build, its favourable location and overall commercial success.

 

2012

December
SEGRO picked up the Estates Gazette Award for National Property Company of the Year - Industrial & Distribution, with the judging panel commenting; "They had a very well-publicised strategy, they went out and, talked a lot about it and they did it, that's no mean feat in these times."

SEGRO’s 28,000 sq m development for Casino, the French supermarket chain, was voted the 'Best Logistics Development of the Year', for new buildings with a minimum floor space of 10,000 sq m, in the SIMI awards - the biggest property awards in France.

September
The Industrial Agents Society name SEGRO Property Company of the Year for the second year in a row. The award is made even more meaningful because the winner is decided by a vote by the IAS members.

SEGRO acquires the Ozarow Business Centre (subsequently renamed SEGRO Business Park Warsaw) for €14.1 million (£12.1 million). The 36,600 sq m estate comprises four modern warehouses, suitable for urban distribution or logistics usage, located approximately 16 km from Warsaw city centre and adjacent to the new A2 highway which links Warsaw with Poznan and Berlin.

New appointments to the Board of SEGRO. Christopher Fisher and Baroness Ford appointed as Non-Executive Directors with effect from 1 October 2012 and 1 January 2013, respectively.

August
SEGRO completes the sale of a portfolio of 10 non-core UK regional industrial estates for £111.0 million to a large institutional UK fund. The portfolio comprised 10 predominantly older, secondary, multi-let industrial estates located in Portsmouth, Bristol, Yate, South Feltham, Sunbury, Crawley and Bishops Stortford.

July
SEGRO completes the acquisition of a portfolio of eight prime French logistics estates for €160.8 million (£129.7 million) from Foncière Europe Logistique, a subsidiary of Foncière des Régions. Five estates are located in established logistics locations in the Ile de France region around Paris, within close proximity to SEGRO's existing core logistics and light industrial estates. The remaining three estates are located in Lyon, one of France's most important logistics and transportation hubs, where SEGRO already has a presence.

June
SEGRO signs  a 20 year lease with Gyron, the specialist data centre service provider, for a 30,000 sq ft building on the Slough Trading Estate. Gyron will be occupying a building in Ajax Avenue, which was developed as part of a 124,000 sq ft speculative building programme started by SEGRO on the Slough Trading Estate in 2011.

April
SEGRO agreed the sale of IQ Farnborough, a mixed-use business park, for an expected consideration of £90.1 million.  IQ Farnborough is the first of SEGRO's six large non-strategic assets to have been sold since being highlighted as non-core at SEGRO's Investor Day in November 2011.

 

Related Content

Business Overview

Business Overview

SEGRO is a leading owner, asset manager and developer of ...

Read more ›