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SEGRO commits to $2.2b development program in the West Midlands
SEGRO, a U.K. REIT and an owner, manager and developer of modern warehouses and industrial property, has joined forces with the West Midlands Combined Authority (WMCA) in a commitment to invest £2 billion ($2.2 billion) in next-generation, net-zero warehouse facilities in the West Midlands throughout the coming decade.
SEGRO aims to deliver 13.5 million square feet of sustainable warehouse space across the West Midlands by the end of 2033, which will be focused on tech-enabled logistics facilities as well as purpose-built space for research and development as well as light manufacturing. This includes the development of SEGRO Park Coventry, a 450-acre site that has planning permission for the construction of 3.7 million square feet of industrial buildings and warehouses.
“There is a long-term shortage of modern, sustainable industrial employment space in the West Midlands, which is vital to enable the efficient movement of goods across the country and to support hig