UK REIT Segro has agreed to acquire the management platform of Roxhill Management Rugby (RMRL) as part of plans to grow its big box warehouse position.
The acquisition follows a partnership launched in 2016 between Segro and Roxhill on a portfolio of big box warehouse development sites in the Midlands and the South-East regions of the UK. Under the same agreement, Segro had the right to acquire the management platform, RMRL, after a period of 30 months.
The transaction is scheduled to complete later this year. The terms of the transaction are confidential.
Since the original agreement was signed, Segro has commenced development of Segro Logistics Park East Midlands Gateway, and is assessing the near-term development potential of a further five sites.
Segro Logistics Park East Midlands Gateway is capable of supporting 550,000 m2 of big box warehouse space in a prime position adjacent to East Midlands Airport, Britain’s second largest air freight hub.
'By combining Segro’s and Roxhill’s teams, we will have the resources to deliver on our strategy to grow our big box warehouse position in the two strongest logistics regions in the UK and the expertise and network to create an on-going pipeline of schemes in the future,' commented David Sleath, Segro's Chief Executive.
