SEGRO secures letting of the 90,000 sq ft unit at SEGRO Park Bracknell and agrees to spec 60,105 sq ft unit
Successful letting of 90,000 sq ft unit speculatively developed unit triggers agreement to develop 60,105 sq ft unit.
SEGRO has leased the 90,000 sq ft unit speculatively built in 2018 and has agreed to speculatively develop a single 60,105 sq ft unit amid high demand for logistics space in the area.
The 90,000 sq ft unit fronts onto the A3095 dual carriageway and offers exceptional access to the M4 and M3 and provides 85,500 sq ft of urban logistics space and 4,600 sq ft office space.
Detailed planning consent is in place for the 60,105 sq ft modern industrial unit, which will be delivered by the end of 2019.
The deal is the largest industrial letting to complete across the Thames Valley in the past twelve months. It is the second letting at SEGRO Park Bracknell, where Midwich, a leading distributor of audio visual and document solutions technology, is preparing to open a new distribution hub. The company pre-let a prominent 31,634 sq ft light industrial unit in 2018, which will support 80 full-time jobs.
Paul Lewis, Regional Director for the Thames Valley and Data Centres at SEGRO, said:
“This successful letting of the 90,000 sq ft unit underlines that Bracknell is a compelling location for industrial and logistics space. Our decision to deliver speculatively at Bracknell has been proved correct, and we are seeing strong demand for high-spec logistics space in the area, which gives us confidence to proceed with the next phase of construction.”
SEGRO Park Bracknell is located adjacent to the UK headquarters of Waitrose, as well as office buildings occupied by world-class businesses Boehringer Ingelheim, a world leading pharmaceutical company, and Fujitsu, a leading provider of IT products and services.
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 7 million square metres of space (75 million square feet) valued at £11 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 eight other European countries.
See www.SEGRO.com for further information.