Tuesday 25th Oct 2016 - Logistics Manager

GeoPost development for Reading

GeoPost UK has pre-let a site from SEGRO at Imperial Way, Reading to develop a 37,700 sq ft cross-dock parcel delivery centre.

The deal is for a 20 year lease, and SEGRO was jointly advised by Haslams and CBRE.

This will be the fifth development that SEGRO has undertaken for GeoPost, which is wholly owned by La Poste – the second largest postal operator in Europe.

Neil Seager said: “The continued growth of internet shopping has meant the way parcels are distributed to customers is evolving. SEGRO’s ability to adapt to such changes in the market is demonstrated by this development and the others completed for Geopost.

“The transaction also helps to further underpin Reading as an important location for logistics”

The pre-let to Geopost leaves approximately 3.9 acres at Imperial Way for future development. The site is less than a mile from Junction 11 of the M4.