SEGRO completes acquisition of Perth Trading Estate, Slough
SEGRO has completed the acquisition of Perth Trading Estate, a multi-let industrial estate from UBS Asset Management in an off-market transaction.
The estate is in a prime location in Slough, adjacent to the north-east side of the Slough Trading Estate and benefits from excellent road connectivity via the M4 motorway and is in close proximity to Heathrow Airport.
Perth Trading Estate spans over six acres, providing 135,000 sq ft of warehouse and logistics space across ten units, all of which are occupied.
The acquisition is a natural expansion of SEGRO’s presence in the area, providing greater potential choice to new and existing customers. It presents an opportunity to create value by applying well established asset management expertise and knowledge of the local market. Its location lends itself to longer term redevelopment to meet the increasing demand for data centres.
The estate generates a topped-up passing rent of £1.5 million, reflecting a low average in-place rent of approximately £11 per square foot with an estimated ERV of £14 per square foot.
James Craddock, Managing Director, Thames Valley, SEGRO said:
“This acquisition further increases SEGRO’s footprint in Slough, where we have operated for 100 years. The Slough Trading Estate is one of the UK’s leading locations for modern industrial warehousing and data centres and we’re delighted to incorporate this estate into our business, which has the potential to provide further opportunities for our customers.”
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and 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.
For 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.