Saughter and May is advising SEGRO on its proposed UK logistics joint venture

Saughter and May is advising SEGRO plc (“SEGRO”) on the formation of a proposed new UK big box logistics joint venture (the “Venture”) with a major international institutional investor. It is intended that the Venture will develop and operate three major UK logistics parks in key locations, which, when fully-let, are expected to deliver a total of approximately 925,000 sq m of space, equating to an anticipated £135mn headline rent and fully developed gross asset value of approximately £3bn (based on customary assumptions).

SEGRO has entered into heads of terms in relation to the Venture with its chosen partner and, subject to final approvals, confirmatory due diligence and the agreement of long-form documents, definitive transaction documents are expected to be entered into in H2 2026.

Saughter and May is advising SEGRO on all aspects of the transaction, working closely with SEGRO’s in-house team headed by Stephanie Murton (Head of Legal and Company Secretary).