SEGRO drives inner London markets growth with Stratford acquisition
SEGRO has taken a step forward in the delivery of its growth ambitions in the attractive inner London markets with the acquisition of a 1.7-acre site in Stratford, East London.
The site has been purchased off-market from a private seller for an undisclosed fee and will be trans-formed into 45,000 sq ft of modern, highly sustainable warehousing.
To be known as SEGRO Park Stratford, the ultra-urban site is located on the Fish Island industrial estate and benefits from direct access to the A12 junction. It sits within zone 2, close to the residential district of Hackney Wick which has undergone significant regeneration since the London 2012 Olympic games. The long-term demographics will create significant demand for goods and services within the immediate vicinity of the site, as well as Canary Wharf which is just two miles away.
Alan Holland, Managing Director, Greater London, SEGRO said:
“This off-market acquisition is in line with our strategy to build scale and a customer offering in ultra-urban locations in Greater London which offer substantial long term growth prospects.
“We know there is significant demand for urban warehousing close to large population cen-tres. SEGRO Park Stratford will not only provide sustainable space that helps enable a low-carbon ecosystem for the delivery of goods and services to a large number of people, it will bring further important employment opportunities to this vibrant part of the capital.”
The site redevelopment will align with the company’s Responsible SEGRO priorities to enable it to make the greatest business, environmental and social contribution to the local area. The redevelopment will be net zero carbon and will include a range of environmental sustainability features.
Notes to editors:
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 8.8 million square metres of space (95 million square feet) valued at £17.1 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 over 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.
A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing Low-Carbon Growth, Investing in Local Communities and Environments and Nurturing Talent.
See www.SEGRO.com for further information.