SEGRO launches £10 million Centenary Fund to support local communities
SEGRO, a leading owner, manager and developer of warehousing and industrial space, has launched a new £10 million fund to mark its centenary which will be used over the next decade to make a positive impact within communities across the UK and Continental Europe.
The majority of the first year’s funding of more than £1 million will be allocated to projects which provide emergency relief and which will help address the longer-term impacts of the COVID-19 pandemic.
The SEGRO Centenary Fund will build on and extend the company’s long-standing and well-established approach to community engagement and support, representing a 10-year commitment to help improve the lives of tens of thousands of people.
It was originally intended to be launched on 19 May to coincide with the 100th anniversary of SEGRO’s establishment, however the plans have been revised to provide urgent support to members of the community who are particularly vulnerable to the impacts of the COVID-19 pandemic. In the first year, funds will be used to help a variety of charities to provide basic necessities, such as food, medicines and household essentials, and to support other initiatives which will help alleviate the impact of the crisis.
In the longer term, the fund will focus on community projects which help young and disadvantaged people into employment and will create community spaces to support people’s training, health and wellbeing.
David Sleath, Chief Executive of SEGRO, said:
“The SEGRO Centenary Fund is one way of recognising the vital role our communities have played in our success over the last 100 years and making sure we give something back by helping thousands of people now and over the next decade.
“Many of the areas where we invest are characterised by high levels of unemployment and social deprivation. We understand the long term need to ensure people from all backgrounds have the skills, training and opportunities to secure meaningful employment. These are the areas where we are focusing the SEGRO Centenary Fund and where we feel we can make a significant difference to people’s lives.
“However, in the near term, we cannot ignore the potentially devastating and long-lasting socio-economic impacts of the COVID-19 pandemic. Accordingly, we are accelerating the launch of the Centenary Fund and broadening its purpose to help address urgent needs in our communities during this time of crisis.”
In addition, all board members of SEGRO will be waiving 25 per cent of their fees and salaries for the next three months. This will be used to provide additional funding to the SEGRO Centenary Fund to further enhance the support it is able to offer to communities during the COVID-19 pandemic.
The majority of the SEGRO Centenary Fund investment will be administered via partnerships with Community Foundations in London, Berkshire, Coventry, Leicestershire, Northamptonshire and
Hertfordshire, to help identify the charities which can make immediate and meaningful interventions within their communities. A substantial contribution will also be made via the LandAid Emergency COVID-19 Fund.
For details of how to of how to apply for funding, please visit https://www.segro.com/csr/centenaryfund .
NOTES TO EDITORS:
For 100 years SEGRO has been creating the space that enables extraordinary things to happen.
SEGRO started its journey in 1920 as The Slough Trading Company, the owners of a vast industrial site in Berkshire used to repair 17,000 military vehicles from World War 1.
By 1925 the last remaining vehicles were repaired and sold, and the company’s focus switched to renting its buildings to a variety of other businesses. In 1926 the company changed its name to Slough Estates Ltd.
Over the course of the 20th century Slough Trading Estate has played an unlikely role in British manufacturing and popular culture. In 1932, Mars established a production facility on the estate, where it subsequently invented the Mars Bar; in 1964 iconic television programme Thunderbirds was created here by Gerry Anderson and between 1964 - 1969 it was the manufacturing hub for the famous Ford GT40 which won the Le Mans 24-hour race an unprecedented four times.
Despite its origins in Slough, Slough Estates expanded far beyond the Berkshire town through the 20th century making acquisitions across the UK and moving into Canada and Australia in the 1950s, the USA and France and Germany in the 1970s, and from the 1990s established a footprint in The Netherlands, Hungary, the Czech Republic and Poland.
In 2007 the company changed its name to SEGRO plc and became a UK Real Estate Investment Trust, making the bold decision in 2011 to sell its retail and office assets to focus solely on industrial property, anticipating that the growth of ecommerce would lead to huge demand for warehouse space.
Today SEGRO has a £12.2 billion portfolio of industrial property across the UK and Continental Europe, comprised of urban logistics space – essential for ‘last mile’ delivery of goods – and ‘big-box’ logistics space, which are larger regional or national distribution hubs.
ABOUT SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT) and listed on the London Stock Exchange in the FTSE 100 index. It is a leading owner, manager and developer of modern warehouses and light industrial property with a portfolio comprising 8 million square metres of space (86 million square feet), valued at £12.2 billion. Its assets are positioned strategically at locations in the UK across London and the South-East and Midlands regions, while in Continental Europe it has developments in France, Germany, Italy, Poland, Spain, The Netherlands and the Czech Republic.
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.