SEGRO (LSE:SGRO), the warehouse, industrial property and data centre owner and developer, has signed three new leases covering approximately 540,000 sq ft at SEGRO Park Coventry.
The deals include pre-lets to Volvo Group UK and DIRKS Consumer Logistics, plus a lease on a speculatively built warehouse to GigaCloud Technology.
The new lettings bring total leased space at the 73-acre site to almost 1.7 million sq ft, out of a planned 3.7 million sq ft once fully developed.
Segro will build a 91,000 sq ft facility for Volvo Group UK to distribute vehicle parts across the UK and Ireland, expected to be operational in early 2027.
DIRKS Consumer Logistics is taking 306,000 sq ft, relocating from another Coventry site once its new facility completes in the first half of 2027.
GigaCloud Technology has leased an entire 140,500 sq ft speculative unit.
The three leases add £6 million of new rent, already included in the £53 million of new headline rent Segro reported securing in the first half at its 8 July trading update.
"These lettings reflect the strong momentum we are seeing at SEGRO Park Coventry and this demand is not to this site," said Dan Holford, Segro's head of national markets.
Once fully occupied, the park is expected to employ up to 5,000 people.
