600,000 sq ft snapped up by logistics firm
Real estate investment trust SEGRO has announced it has secured a pre-let with DP World Logistics, on its 200-acre development in Warwick.
DP World Logistics will occupy a new 598,050 sq ft BREEAM Excellent unit at SEGRO Park Coventry, SEGRO’s fourth scheme on the site. From the site, it will continue its work in the design and operation of complex supply chains for the high-growth automotive and technology industries.
After transforming the former landfill site into SEGRO Park Coventry, the firm completed a 300,000 sq ft pre-let to a leading delivery company and is currently building two speculative units of 140,000 sq ft and 220,000 sq ft which will complete in September 2023. It’s expected that Park Coventry will generate more than 7,000 jobs in total.
The sustainable logistics location, offers up to 3.7m sq ft of new industrial and warehousing space and once complete, will also include a 235-acre community park with footpaths, cycle routes and new woodlands and wetlands.
In line with the company’s commitment to be net-zero carbon by 2030, the unit will also include PV panels, an office content heated by air source heat pumps and 20% of car parking spaces fitted with EV charging facilities.
Andrew Pilsworth, managing director, national logistics at SEGRO, said: “This deal further expands the diversity of our customer base and demonstrates demand from customers that are looking for modern, high-quality, sustainable warehouse space in the right locations”.
Denis Doyle, head of UK contract logistics, DP World Europe, said: “We are confident that operating from this site will help us to simultaneously provide a high level of service for our customers as well as build on our strong sustainability values, which saw DP World reduce its carbon output across its operations in Europe by 20% last year compared to 2021.”
SEGRO is also delivering a Community Investment Plan to support the local community and aims to bring long-term economic and social benefits to the region.
