SEGRO expands London portfolio

SEGRO has made two off-market acquisitions in Greater London by way of two units in Croydon and one in Dagenham – via a sale and leaseback with Kuehne + Nagel.

K+N has signed a 10-year lease on the 64,000 sq ft warehouse unit in Dagenham. It is located on Orion Park which adjoins the A13.

In Croydon, SEGRO acquired two units on Greenland Way, comprising a total of 176,556 sq ft. The facilities, currently utilised as a data centre and last-mile parcel delivery unit, are SEGRO’s first acquisitions in Croydon.

Earlier this year SERGO said it would develop a new 185,000 sq ft urban logistics hub in Tottenham, following the off-market acquisition of eight acres of land at White Hart Lane.

Simon Pursey, head of UK investment at SEGRO, said: “With available sites at a premium we remain alive to opportunities to acquire assets that complement our existing holdings, particularly in our core London and South East markets where rental growth prospects remain strong and there continues to be high demand for urban logistics and data centres.”