Eversheds Sutherland has advised long-standing client SEGRO on its acquisition of a 450 acre logistics site, known as Gateway South, Coventry, which is adjacent to the city’s Airport.
This acquisition gives SEGRO complete ownership of Gateway South.
Gateway South, Coventry has planning consent to develop 3.7m sq ft of industrial and warehouse buildings with a gross development value in excess of £400m. The development includes investment to remediate the former sewage works and post-war landfill site, build new road and drainage infrastructure and create a 230-acre community park.
Infrastructure and remediation works on Gateway South began in January 2020 and will be completed in early 2023, with the first occupation of the industrial and logistics park possible from this date.
SEGRO plc is a property investment and development company.
The Eversheds Sutherland team was led by corporate partner, Theresa-Marie Stodell (Picture), supported by real estate partners David Emberson and Bruce Dear.
Law Firms: Eversheds Sutherland;
Clients: Segro Plc;