Mitsubishi Electric Europe B.V. signs lease at SEGRO Park Rainham, East London
10-year lease agreed on 36,000 sq ft units. Mitsubishi Electric to occupy two units
Mitsubishi Electric Europe B.V. (“Mitsubishi Electric”), a leading innovator of new technologies in the lift and escalator market, has signed 10-year leases for 36,000 sq ft at SEGRO Park Rainham in Havering, East London. The space, which will be spread across two units, will be used for storage, distribution, administration and servicing purposes.
SEGRO Park Rainham consists of five units ranging from 17,316 to 70,588 sq ft, all built to BREEAM ‘Excellent’ standards, as well as an Enterprise Quarter, a pioneering hub providing workspace ranging from 500 sq ft to 2,000 sq ft for start-up and smaller business, which has attracted 15 businesses since launching in September 2018.
Alan Holland, Business Unit Director Greater London at SEGRO, said:
“We’re delighted to welcome Mitsubishi Electric to SEGRO Park Rainham, and to meet their needs by offering them two units in close proximity to one another. SEGRO Park Rainham offers quality industrial space in a prime location, which was important for Mitsubishi Electric.”
Andrew Martin-Flaven at Mitsubishi Electric, said:
“These two new units at SEGRO Park Rainham are ideally suited in terms of both quality and location. Finding the right premises is critical to our business and for enabling the development of our future technologies.”
SEGRO Park Rainham part of East Plus, one of the most significant regeneration and employment space creation projects in London that will create up to 7,000 new jobs in east London.
Since its inception in 2015, SEGRO has transformed 33 acres of once redundant land into high quality employment space, securing a wide range of customers.
SEGRO Park Newham, which is also part of the East Plus development is positioned nearby, and is now 100% pre-let with customers including DPD, DHL and Travelodge.
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.
About East Plus
- In October 2015, SEGRO was selected as GLA’s preferred partner to deliver East Plus, due to its unrivalled track record in modernising and regenerating industrial space.
- Part of the then-Mayor’s vision for East London, East Plus is the redevelopment of 86 acres of brownfield land across Newham, Barking & Dagenham and Havering, set to deliver 1.4 million sq ft of modern industrial space over the next 10 years, acting as a catalyst for the wider regeneration of London Riverside.
- As part of a joint vision for East London, this wave of development supports local trade and provides opportunities for inward investment, whilst keeping East London’s industrial heritage alive. The partnership will be one of the largest to create employment space on public land in London.
- SEGRO Park Rainham and future schemes will maximise training and employment opportunities with up to 4,400 jobs and will create a new vibrant destination for business.
- The park boasts unrivalled transport connections with easy access to both Junction 31 of the M25 and the A13 in less than ten minutes. Short distances to the Port of Tilbury and London Gateway Docks, alongside Barking Intermodal terminal, link Rainham to national and international transport networks, with fast access to Central London and London City Airport.