Shares in SEGRO (LON: SGRO) rose 1.7% on Monday morning following the announcement of significant progress in its data centre programme.
The update highlights the company’s continued strategic focus on expanding its presence in the rapidly growing data centre market, particularly within the key European hub of Slough Trading Estate.
SEGRO has secured an agreement to develop a powered shell data centre for an existing client within the Slough Trading Estate, Europe’s preeminent data centre location.
The development will provide 30,000 sq m of modern data centre space distributed across three floors of data halls, complemented by a roof-level plant deck. The facility will be supplied with 50MVA of power, contracted directly by the customer. The project benefits from existing planning permission under the Slough Trading Estate Simplified Planning Zone.
Furthermore, SEGRO Pure Premier Park Data Centre Limited, SEGRO’s joint venture with Pure Data Centres Group, has received planning committee approval for its first fully fitted data centre. This facility, located at SEGRO Premier Park in Park Royal, West London, will benefit from 70 MVA of incoming power.
The project is committed to high sustainability standards, incorporating an energy-efficient design that includes closed-loop liquid cooling to minimize water usage.
The Slough Trading Estate project will allow SEGRO to utilize a relatively small 3.5 acre plot profitably, while also allowing an existing customer to expand its campus. The company is targeting a BREEAM ‘Excellent’ rating for its shell development, demonstrating a commitment to sustainable development practices.
The Premier Park development is a joint venture, highlighting SEGRO’s strategy of partnering with specialist firms to accelerate its data centre ambitions. Finalizing the planning process and securing a pre-let for the Premier Park facility remain key objectives for SEGRO and its partner.
Andrew Pilsworth, Managing Director of Data Centres and Strategic Partnerships at SEGRO, noted that the announcements “demonstrate further progress in our strategy to execute on the 2.5GW+ opportunity in our powered land bank.”
He emphasized the importance of the Slough Trading Estate’s critical mass and Simplified Planning Zone status in facilitating expansion, while highlighting the significance of the Premier Park approval for SEGRO’s fully fitted data centre development strategy.
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