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SEGRO plans multistory shed at Greater London regeneration scheme

SEGRO Plc is considering the development of a multistory warehouse at the Meridian Water scheme in Enfield, Greater London, amid a dearth of land parcels for industrial properties in the British capital, Property Week reported.

The company is also working up plans to build "several" multistory properties in its London portfolio to tackle the issue of a lack of development sites in the capital.

The scarce supply of industrial sites in London has stemmed from the growing trend of such properties being designated for residential development, according to the March 31 report.

Last year, Enfield council chose SEGRO as a development partner, along with Barratt London, for a £6 billion Greater London regeneration project. Barratt London will deliver 10,000 homes, while SEGRO will develop a 450,000-square-foot urban logistics park at the Meridian Water site.

Meanwhile, in Munich, SEGRO is building a 150,000-square-foot two-story warehouse for an unnamed internet retailer. The company is also developing a two-story, 700,000-square-foot industrial shed in Gennevilliers, northern Paris, PW noted.