UK REIT Segro has reached an agreement with European build-to-suit acquisition data centre platform, Global Technical Realty (GTR), to develop its first UK-based facility, which will become the largest data centre campus in the UK’s premier data centre and communications hub, located in Slough.
GTR – backed by leading global investment firm KKR – will be taking a 400,711 sq ft space for a 25-year term to operate bespoke data centres for high-growth global technology companies.
The facility will support growing demand for third-party data centre provision amid ever-increasing growth in data usage and cloud services adoption, the two partners said.
Segro will tailor the design and develop the site to GTR’s requirements, which will comprise three independent data centres capable of operating individually, or as one interlinked campus.
The development will be delivered in two phases and should be fully operational by Q4 2022. The first phase will provide 132,575 sq ft of space, with vacant possession already achieved for start on site. The second phase will create 268,136 sq ft of space, with vacant possession of the site delivered to the customer by early 2022.
Franek Sodzawiczny, CEO & Founder of GTR, said: ‘We are excited to be back in UK alongside our partner KKR and look forward to working closely with Segro to deliver this state-of-the-art data centre campus. The data centre space is a fast moving one. GTR was established to support its customers in providing a data centre solution wherever in the world there is the demand for it. We are delighted that the UK will become home to our flagship concept.’
James Craddock, managing director, Thames Valley at Segro, said: ‘Data centres are increasingly regarded as part of our key national infrastructure given the critical role they play in our daily lives. Home working, data streaming, e-commerce and businesses’ reliance on cloud services have all grown during the pandemic, meaning demand for data centres is unabated.’
Slough Trading Estate is the largest privately-owned business park in Europe. Over one third of the estate is less than 10 years old, and it has a vacancy rate of just over 2%, with the remainder being leased to a mix of small and large businesses, across a diverse range of industry sectors.