In 2010 SEGRO announced its acquisition of BAA’s 50% interest in the Airport Property Partnership bringing 200,00 square metres of UK airport related space under SEGRO’s control, including most of the cargo assets at Heathrow airport.
In April 2011, David Sleath succeeded Ian Coull to become SEGRO’s new CEO.
A strategic plan was announced in November 2011 to reposition SEGRO as a leading income-focused REIT and the best owner-manager of industrial property.
2012 was the first year of focused activity in relation to the new strategic plan. Speculative development on the Slough Trading Estate as well as acquisitions across Europe and the sale of IQ Farnborough – the first of the “Big Six” non-strategic assets highlighted in the strategic plan – featured as highlights.
In 2013 SEGRO and Public Sector Pension Board (PSP investments) formed a new joint venture in Continental Europe - SEGRO European Logistics Partnership or “SELP” – seeded with 1.6bn sq m of SEGRO’s Grade A logistics portfolio, valued at approximately £1bn.
2014 witnessed the addition of a €472m portfolio of prime logistics assets in Germany, France and Poland to the SELP portfolio from Tristan Capital, whilst speculative development in the UK included the Origin site, in Park Royal, offering over 460,000 sq ft of high quality logistics space.
In 2015 the last of the “Big Six”, Energy Park Milan, was sold to Hines Italia SGR for €118.7m. In the UK, SEGRO boosts its land bank with the acquisition of a 20 acre site in Purfleet, Essex, with potential for 400,000 sq ft of development.