FTSE 250 industrial property company Segro has signed a pre-let for a new data centre facility with Infinity, at the Slough Trading Estate.
The firms have agreed a 25 year lease for the 125,000 sq ft development, with completion due in 2012.
Chief executive of Segro, David Sleath, said: "We have developed a very strong understanding of the requirements of this industry over the past 15 years and with our ability to develop build to suit solutions at secure locations, it is an industry sector where we expect to see continued growth."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Including the pre-let to Infinity, Segro has now acquired or built 17 data centres across its portfolio, equivalent to 1,370,000 sq ft (127,000 sq m).
The development will be 'fast-tracked' by Segro (which some readers will remember as Slough Estates) as a result of Slough Trading Estate's Simplified Planning Zone status, which means that developments which meet set criteria have outline planning consent and can be progressed quickly and efficiently to save occupiers' time and money, the firm added.
NR
-
Vietnam: a high-growth market going cheapOpinion The threat of tariffs has shaken Vietnamese stocks, but long-term prospects remain solid, says Max King
-
Who’s driving Tesla?As Elon Musk steps back from government with his eyes on the stars, investors ask if he’s still behind the wheel at his electric-car maker.
