The first decade of the new millennium saw huge change and expansion for the business.
In 2002 the first data centre was created on the Slough Trading Estate.
Ian Coull, the former head of property at Sainsbury’s, was appointed CEO in 2003 and set about modernising the business and creating a more focused European portfolio, concentrating on industrial and office property.
2004 was the year in which Slough Estates exchanged the majority of its retail properties in return for the industrial investments of Land Securities.
The middle years of the decade saw numerous industrial properties acquired in the UK, Germany, France, Spain, Italy and The Netherlands.
2006 saw the Group acquire the logistics development business of Grontmij Real Estate, bringing a development capability in Hungary, Poland and the Czech Republic.
2007 saw Slough Estates change its name to SEGRO. It also became a UK-REIT (Real Investment Trust) from January 1 that year and continued to expand in both UK and Continental Europe through further acquisition and development. 2007 also saw the sale of Slough Heat and Power, the power generation operation based on the Slough Trading Estate, to Scottish and Southern Energy plc.
In June 2007, the $2.9bn disposal of SEGRO’s US property business left the Group as a European-focused industrial property group operating in 10 countries.
Following the Global Financial Crisis, SEGRO acquired its main UK rival Brixton plc, establishing the Group as the leading industrial property company in the UK.