SEGRO and Roxhill in joint venture talks

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Property developer and investor SEGRO has confirmed it is in talks with Roxhill about a possible arrangement that, should it be agreed, will enable SEGRO to strengthen its presence in the UK big box logistics market.

“The arrangement would involve SEGRO and Roxhill working together over a period of years to develop a number of land sites in the Midlands and South East regions of the UK, which are currently held under option by Roxhill,” SEGRO said in a statement.

However, it noted there was no guarantee an agreement would be reached and a further announcement would be made if and when appropriate.

Roxhill has 1,690 acres of land in strategic locations across the UK. It has recently been given planning permission to build a 6 million sq ft strategic rail freight interchange north of the East Midlands Airport. Known as the East Midlands Gateway, the project will include ten warehouses along with a rail freight terminal suitable for 750m freight trains and it will have direct connection into the national freight network.

It also has options on land in the Midlands including Coventry Gateway that could provide up to 3.4 million sq ft as well as land in Northampton that could provide a further 2 million sq ft.

In the South east Roxhill has an option on the former Prologis site at Howbury totalling 149 acres. The site could develop a rail connected warehouse scheme providing London and the South East with a sustainable distribution park with modern multi modal connections.

The site is allocated in the London Plan and a new planning application for the scheme – to update and revise the permission granted in 2007 – is being put forward.

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