SEGRO and Pure Data Centres Group (Pure DC), a global data center operator, have formed a 50-50 joint venture, SEGRO Pure Premier Park Data Centre Ltd., to develop and deliver a fully fitted data center in Park Royal, West London.
The joint venture intends to develop a 30,000 square-meter (322,917-square-foot) fully fitted three-story data center in a land- and power-constrained key London availability zone, where there is strong underlying demand. Gross capital investment is estimated to be approximately £1 billion ($1.3 billion).
SEGRO Park Premier Road is a super-prime West London industrial estate that was acquired by SEGRO in 2009. The 10-acre plot that has been identified for the development is on the edge of the estate, where an older warehouse is currently located. SEGRO will contribute the land to the joint venture and will carry out the site clearance and remedial works.
In addition to contributing land, SEGRO’s estimated cash equity contribution to
