SEGRO buys a factory in Mollet del Vallès to convert it into an urban distribution and logistics hub
SEGRO, the British investment fund specializing in the logistics real estate sector, has acquired a 7-hectare plot of land in Mollet del Vallès (Barcelona). It has a privileged location with immediate access to the A7 (France-Madrid) and the C17, which leads directly to Barcelona, 21 km away.
The property will be refurbished to provide 40,000 m² of urban and logistics storage space, suitable for a single occupant, but subdividable into 6,000 to 7,000 m² units, construction work to begin during the course of 2019.
This acquisition comes on the heels of recent acquisitions in Getafe (Madrid) and Sant Esteve Sesrovires (Barcelona) and further strengthens SEGRO's growing position in Spain, where it now owns nine assets in Madrid and Barcelona.
David Alcázar, Director of SEGRO Spain comments: "Our priority in Spain and elsewhere is to build modern, high-quality assets, not focusing exclusively on quantity. For this reason, we only choose strategic locations in the most dynamic regions of Spain. The Our goal is to create and develop innovative, high-quality warehouses for our customers, building environmentally responsible Class A buildings for urban distribution and logistics.”
SEGRO has also held talks with the Mollet del Vallès City Council and the municipal government has shown its willingness to collaborate with new business establishments such as SEGRO which, as Josep Monràs, Mayor of Mollet, states, "can generate employment and offer opportunities to the citizens of Mollet del Vallès”.
SEGRO focuses on the investment and development of buildings with a long-term perspective, helping to attract business and activity in strategic areas, through its clients who settle there. It is also a specialist in the reconversion of industrial opportunities, thanks to its extensive experience in Europe.
SEGRO is a British Listed Real Estate Investment Company (Socimi), a leader in Europe in the management, promotion and development of logistics and industrial assets. SEGRO owns or manages a real estate portfolio of 6.3 million m², with a market value of GBP 8,000 million, serving different clients in the logistics and industrial sectors. Its parks are located in the main hubs, distribution and transport of the countries in which it is present. It has logistics parks and reference transport centers in Europe.
SEGRO experienced a record year in 2016 and, according to its results for the first and second quarters of 2017, the company registered an increase in its net rental income of 3.9%. Likewise, it signed lease contracts worth GBP 27.5 million (about 30.8 million euros), 28% more than in the same period of 2016, of which 18.4 million GBP (about 20, 6 million euros) corresponded to signed turnkey leases. During 2017, the company has continued with a high volume of activity, placing Spain as a priority market for the group.
Since SEGRO began its activity in Spain in 2015 with the development of a logistics center in Martorelles (Barcelona) and which is currently leased to one of the largest e-commerce companies, the firm has acquired a logistics park of 16,000 m² in Coslada (Madrid), another 49,000 m² in Castellar del Vallés (Barcelona), a second plot in Martorelles where the construction of a 20,000 m² logistics building has begun, and land acquired in San Fernando de Henares. SEGRO has added other land in Getafe (Madrid), Sant Esteve Sesrovires (Barcelona) and, now, Mollet del Vallès (Barcelona) to its portfolio of assets, building a portfolio of almost 300,000 m 2 .