Segro tops up Greater London land bank with West London buy

UK REIT Segro has acquired a 12-hectare site in Hayes, West London, from food and beverages group Nestlé UK for an undisclosed amount.

The acquisition marks a significant addition to Segro's existing land bank in South East England, which already represents two-thirds of Segro's portfolio by value.

Within its Greater London business, Segro completed 400,000 sq ft (37,160 m2) of warehouse development in 2014 and around 285,000 sq ft of development is in the pipeline.

The newly acquired site offers easy access to the UK motorway network for regional distribution and to central London for urban logistics operators. It is also next to the Hayes and Harlington railway station which will become a Crossrail station in 2018.

Nestlé will continue to occupy the property for up to six months during which time it will decommission the site, which formerly housed its coffee production business. During this period, Segro will consult with Hillingdon Council, the Greater London Authority and the local community on its plans for the area.

Segro was represented by Savills.