Segro has been appointed a strategic partner to the West Midlands Combined Authority and aims to build 13.5 million sq ft of new warehouse space across the region by the end of 2033.
It plans to focus on tech-enabled logistics facilities as well as purpose-built space for research & development and light manufacturing.
The investment includes the development of Segro Park Coventry, a 450-acre site that has planning permission for the construction of 3.7 million square feet of industrial buildings and warehouses.
Chief executive David Sleath said: “There is a long-term shortage of modern, sustainable industrial employment space in the West Midlands, which is vital to enable the efficient movement of goods across the country, and to support high-tech research & development and manufacturing.
“By working closely with the West Midlands Combined Authority we can identify and unlock brownfield sites for development and deliver critical infrastructure that serves the whole of the UK, creating a diverse mix of local employment and supporting the creation of a more resilient economy across the country.”
West Midlands mayor Andy Street said: “Segro becoming a strategic partner is another welcome vote of confidence in our region and the investment programme they have committed to today is testament to their level of belief in a bright future ahead for the West Midlands. It is exactly this kind of private sector investment – combined with the public sector creating the right conditions – that will ultimately drive our prosperity in the months and years ahead.
“Segro’s investment programme will help regenerate long neglected areas right across our region – building just the sort of modern premises that companies need to grow – creating high quality jobs for local people in the process.”
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