SEGRO signs pre-let agreement with Primark for development of the fashion retailer’s first Italian depot
SEGRO, a major industrial real estate development company, has signed an agreement with Primark, the international fashion retailer, for the construction of its first depot in Italy, supporting the retailer’s growth ambitions in the country and creating 200 new jobs
Covering a total area of 81,000 m², it will be located in Alessandria, a strategic location due to its proximity to the port of Genoa, which will serve as the gateway for Primark’s goods entering Italy and will serve all Primark stores in Italy and facilitate expansion plans. The building will be developed according to a built-to-suit approach, reflecting the customer’s specific requirements.
The property will be built with particular attention to sustainability, targeting BREEAM New Construction 'Excellent' as well as BiodiverCITY®, a new certification process aimed at assessing and promoting the value of biodiversity in the real estate sector. It will also include a number of features that promote employee wellbeing.
This major investment comes at a time of strong growth for Primark in Italy: today, the retailer also opened its 20th store in Italy, in the northwestern city of Biella.
Luca Sorbara, Head of Italy at SEGRO, commented:
“We are proud to support Primark in this important moment of growth. Over the past months we have worked side by side to define the features of its first depot in Italy, designed to meet the brand’s specific storage and distribution needs. This project also marks a significant milestone for SEGRO, expanding our existing presence in Italy which comprises a fully leased portfolio totalling over 1.5 million square metres of space.”
Luca Ciuffreda, Head of Primark Italy, said:
“We are excited to further expand Primark’s presence in Italy with plans to develop our first depot here. This announcement comes as we mark a major milestone with the opening of our 20th Italian store in Biella today. The partnership with SEGRO represents a strategic step to support our growth ambitions and improve efficiencies in our supply chain as we continue to bring even more customers the products they love at the unbeatable value we’re known for.”
About SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris. The company owns, manages and develops modern warehousing, industrial property and data centres across the UK and seven other European countries, with a portfolio of 10.8 million square metres of space (116 million square feet) valued at £21.4 billion.
Founded in 1920, SEGRO's active approach to asset management and disciplined approach to capital allocation has created a portfolio of high-quality, sustainable buildings in some of Europe's largest cities and at key transport and digital infrastructure hubs.
From big-box logistics to urban warehousing and data centres, SEGRO creates the space that enables extraordinary things to happen. It provides the infrastructure of modern economies and everyday life, enabling efficient, low-carbon supply chains and digital connectivity across Europe, helping drive growth and job creation. This space supports a diverse customer base including retailers, manufacturers, logistics providers and technology companies.
SEGRO’s is committed to being a force for societal and environmental good, prioritising Championing low-carbon growth, Investing in local communities and environments, and Nurturing talent.
For more information, visit www.SEGRO.com.