Segro, the dominant logistics landlord in the South East, has disclosed that it is in talks with rivals Roxhill to take on an 11m sq ft development programme, mainly in the Midlands.
The move – which promises a massive shake-up of the UK logistics property scene – will see the Slough-based landlord break back into the UK big box warehouse market. It reverses a move in 2012 when they pulled back from investment outside the South East, selling their Manchester estates to US investor Harbert from more than £200m.
Roxhill and Segro are understood to be close to a deal that would see Segro take on Roxhill sites at Castle Donnington, Ketting and Northampton.
The full list of ten sites has not been disclosed. Up to 11m sq ft could be developed.
In a statement a Segro spokeswoman said: “SEGRO confirms that it is in discussions regarding a possible arrangement with Roxhill 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.”
“There is no guarantee that an agreement will be reached and a further announcement will be made if and when appropriate.”