Segro has acquired Bath Road Shopping Park in Slough, from Royal London Asset Management for £120 mln (€135 mln).
The retail park is located next to the Slough Trading Estate and covers approximately 11.4 acres. It includes 10 retail warehouse units, roughly one third of which are currently vacant thereby providing immediate opportunities for asset management or redevelopment initiatives, as the remaining leases expire between 2023 and 2028.
Segro explained that land that is suitable for industrial development was in high demand and short supply in the Thames Valley and the relatively short lease terms of the retail units created an opportunity to redevelop the site into modern warehousing suited to a variety of users, including data centres.
Segro was represented by Knight Frank and CMS. CBRE and GunnerCooke advised Royal London.