Padel craze drives demand for industrial property Property Padel operators have leased out more than one million square feet of industrial space in the last 18 months, as the UK’s newest sports craze takes over the country’s warehouses. The volume of square feet snapped up for Britain’s fastest-growing racquet sport in the past year and a half is almost seven times that in [...]
Segro boss David Sleath: AI data centre roll out a matter of life and death Property The roll out of AI data centres in the UK’s urban hubs is a matter of life and death, warehouse magnate David Sleath has said. In an interview with CityAM, the chief executive of industrial property group Segro said developing data centres in urban areas is “critical” for relying on developments such as saving [...]
Crane drain: Construction falls to 10-year low Property Commercial property development in the UK has plunged to its lowest level in over a decade, as tighter monetary conditions and sparse demand continue to weigh on construction. According to a fresh analysis from Costar, just 68m square feet of offices, industrial and retail sites was being developed at the end of September, a 16 [...]
Segro pounces on Tritax Eurobox with all-share £552m offer September 4, 2024 The London-listed warehouse giant Segro has made an offer for its smaller peer, Tritax Eurobox. Sergo and Tritax Eurobox announced this morning they had reached an agreement on the terms of a recommended all-share offer by Sergo for the entire issued and to be issued share capital of Tritax Eurobox. Segro has agreed to pay [...]
Segro hikes rents and eyes expansion following fundraising April 18, 2024 In the first three months of 2024, the real estate investment trust invested £99m in new developments, with £600m total expected to be spent throughout the year, it said in a trading update.
Segro looks to lift rents 50 per cent in next three years as warehouse demand continues to grow February 16, 2024 The company's boss, David Sleath, made these comments alongside its full-year numbers, which showed a 12.5 per cent jump in rental income.