SEGRO has agreed three new leases covering around 540,000 sq ft at SEGRO Park Coventry, adding £6m of new headline rent as leasing momentum at the development continues to build.
Volvo Group UK has committed to a 91,000 sq ft build-to-suit warehouse on a prime plot at the entrance to the park. Expected to be operational in early 2027, the facility will serve as a new distribution centre supporting the storage and delivery of vehicle parts across Volvo’s networks in the UK and Ireland.
DIRKS Consumer Logistics, part of the German DIRKS Group, is taking 306,000 sq ft in a pre-let facility, relocating from elsewhere in Coventry when the development completes in the first half of 2027. The supply chain firm handles fulfilment and distribution for leading retail brands, including online pet store Zooplus.
A third deal sees global B2B technology provider GigaCloud Technology take an entire 140,500 sq ft speculatively developed unit. The lettings take leased space at the 73-acre site to almost 1.7m sq ft, with DP World and DHL among existing occupiers.
Dan Holford, Head of National Markets at SEGRO, said: “These lettings reflect the strong momentum we are seeing at SEGRO Park Coventry and this demand is not limited to this site: we are seeing similarly positive activity across our UK big box portfolio, underlining the continued need for high-quality, well-connected space in the right locations.
“They also demonstrate the important role SEGRO plays in attracting and enabling international investment into the UK and the West Midlands. By providing the right infrastructure in the right locations, developments such as SEGRO Park Coventry create the conditions for globally mobile businesses to invest and grow here, supporting jobs, strengthening supply chains and driving economic growth.”
The £6m of new rent formed part of the £53m of headline rent SEGRO announced it had secured during a strong first half in its trading update last week. All units target BREEAM Excellent certification and an EPC A rating.