SEGRO continues to build scale in Spain with the acquisition of prime logistics sites in Barcelona and Madrid
SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership (“SELP”) joint venture, today announces on behalf of SELP, the acquisition of a portfolio of Spanish logistics land sites.
All of the sites are in Barcelona and Madrid and are able to support approximately 240,000 sq m of modern, sustainable warehouse space, developable over the next five years, which will allow SEGRO, through SELP, to continue to build scale and increase its presence in Spain.
The sites total 41 hectares and are all in locations within close proximity to major population hubs, making them ideal to meet ongoing occupier demand that has been further strengthened by the rapid rise in
Five of the assets are in Barcelona, including development sites in Cerdanyola del Vallès, Terrassa,
Palau-Solità i Plegamans, Viladecans as well as an existing, fully let 14,000 sq metres warehouse facility in the Polinyà municipality.
The remaining sites are in Madrid including in Paracuellos, strategically located next to Madrid Barajas Airport and two further sites bordering the M45 orbital road in San Fernando de Henares and Villaverde.
Marco Simonetti, Southern Europe Business Unit Director for SEGRO, said:
“This acquisition will significantly expand our footprint in Spain, an exciting market where we are growing our portfolio of high quality, well located assets to meet the increasing demand for prime, sustainable warehousing.
“It will complement our existing portfolio in Barcelona and Madrid, helping to establish us as a leader in modern warehousing and industrial property in these important logistics markets.”
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 8.1 million square metres of space (88 million square feet) valued at £13.3 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 seven other European countries.
SEGRO European Logistics Partnership (‘SELP’) is a joint venture in which SEGRO owns a 50 per cent interest. It was established in October 2013 and owns over €4.5 billion of big box warehouses and development land across seven Continental European countries. SEGRO acts as asset, property and development manager for SELP.