The new owners of Slough Retail Park have spoken out about the future of the site.
SEGRO, the real estate investment trust company who are the backbone of Slough Trading Estate, acquired the retail park on Wednesday, January 11 in a million-pound deal.
The 191,500 sq ft site was sold to SEGRO by the previous owner, The Royal London Mutual Insurance Society Limited, for £120.25million.
Speaking on why SEGRO chose to purchase the land a spokesperson for SEGRO said: “Land suitable for industrial development is in high demand and short supply in the Thames Valley, so as a business with a strong, long-term commitment to the region, the site which is located next to our Slough Trading Estate provided us with an excellent opportunity to grow our portfolio.
“The park includes 10 retail warehouse units, roughly one-third of which are currently vacant thereby providing us with immediate opportunities for asset management or redevelopment initiatives.
“The leases for the occupied units expire between 2023 and 2028. Having just completed the acquisition, we are focused on exploring our options for the site in line with the current market conditions.
“This could include redevelopment for a variety of uses, including data centres. No decisions have been made yet and any redevelopment or change of use will be subject to the usual planning process.
“We look forward to disclosing details of our plans and anticipated timescales in due course.”