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In 2016, SEGRO and Roxhill Development Group entered a partnership that gave SEGRO phased access, through option agreements, to a portfolio of big box warehouse development sites in the Midlands and South-East regions of the UK. Under the same agreement, SEGRO had the right to acquire the management platform, RMRL, after a period of 30 months.

The transaction being announced today, which is scheduled to complete later this year, exercises this right and will create a single team, based in the Midlands, focused on the management and development of UK big box warehousing. The terms of the transaction are confidential.

Since the original agreement was signed, SEGRO has commenced development of SEGRO Logistics Park East Midlands Gateway (‘SLPEMG’), and is assessing the near-term development potential of a further five sites. SEGRO retains longer-term optionality over the remaining sites covered by the original agreement.

SEGRO Logistics Park East Midlands Gateway typifies the success of the partnership. The Park is capable of supporting 550,000 sq m of big box warehouse space in a prime position adjacent to the M1 motorway and to East Midlands Airport, Britain’s second largest air freight hub, and will also benefit from its own rail freight terminal. SEGRO and Roxhill have secured customers for 250,000 sq m of new big box warehouse space and construction of the new rail freight terminal has already commenced.

David Sleath, SEGRO Chief Executive, said:

“By combining SEGRO’s and Roxhill’s teams, we will have the resources to deliver on our strategy to grow our big box warehouse position in the two strongest logistics regions in the UK and the expertise and network to create an on-going pipeline of schemes in the future.

“We will be even better placed to meet occupier demand for modern, well-located warehouses which are an increasingly critical component of the national infrastructure dealing with the impact of e-commerce.”

David Keir and Jason Dalby, founders of the Roxhill management team, said:

“We are pleased that SEGRO have taken up their option to acquire RMRL which is testament to the quality of the staff and the progress that they have made on the joint venture sites since 2016.

“The pipeline of land for development at SEGRO’s disposal is market leading and affords an exciting opportunity for both SEGRO and the RMRL employees alike.”

SEGRO plc 

ABOUT SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 6.9 million square metres (74 million square feet) of space valued at over £10 billion, serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in nine other European countries.

Acquisitions and disposals Investors
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