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Segro to start spec development near London

Listed European logistics group Segro said on Monday that it plans to start a speculative development at its Origin industrial site in West London.

Situated in Park Royal, the 22-acre site will be developed in two phases, with Phase 1 encompassing 14,700 m2 on a speculative basis. The project will take the form of three stand-alone units comprising 3,400 m2, 4,900 m2 and 6,400 m2.

'This latest project reflects Segro's confidence in the location and the likely demand for high quality warehouse space in one of London’s prime markets for urban distribution and light industrial activities,' the UK REIT said in a statement.

The units will be built to a BREEAM ‘Excellent’ standard, which will include the use of photovoltaic roof panels. Construction of Phase 1 will commence in March 2014, with completion scheduled for November 2014.

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