SEGRO retains long term customer on the Slough Trading Estate
SEGRO, the leading owner, manager and developer of modern warehousing and industrial property, has completed the construction of a building extension for one of its longest standing customers, John Crane.
The extension has enabled John Crane to consolidate its operations on the Slough Trading Estate from two buildings into one and allows SEGRO to retain the customer on the estate after agreeing a new 15-year lease.
John Crane – a supplier of engineered technologies and services to the oil and gas industry – has been operating on the Slough Trading Estate since 1923. Few companies can demonstrate the benefits of locating in a diverse, dynamic industrial environment under single ownership like John Crane can at Slough. During its 98 years on Slough Trading Estate, it has occupied at least six different buildings, with each move reflecting the changing needs of the business at the time.
The 10,450 sq ft extension will increase the total amount of space at the company’s Buckingham Avenue facility to 94,400 sq ft and will make available its Banbury Avenue premises for SEGRO to redevelop when the current lease expires.
John Crane employs around 300 people in Slough and this deal will retain these jobs and create further opportunities on the Trading Estate.
Domenic Dicioccio, Plant Manager, UK at John Crane, said:
“We are excited about the new production capabilities and organisation benefits enabled by the extension of our Slough site. Our ongoing investment in facilities, people and technology supports long-term plans for business growth in essential energy production industries. We look forward to our continuing relationship with SEGRO and the Slough Trading Estate.”
James Craddock, Managing Director, Thames Valley at SEGRO, said:
“We have worked with John Crane for almost a century, and it is testament to the strength of this partnership that we can continue the relationship for at least another 15 years.
“This deal also demonstrates the benefits of working within a Simplified Planning Zone, as well as the uniqueness of the Slough Trading Estate and how it is able to adapt and be flexible to help customers address their everchanging needs. It also shows that by maintaining a close dialogue with our customers and thinking creatively we are able to meet our own requirements to modernise and evolve the Trading Estate within the physical constraints of land availability.”
ENDS
Notes to editors:
About SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 8.8 million square metres of space (95 million square feet) valued at £15.3 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.
For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution, to urban warehousing and light industrial property located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.
A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing Low-Carbon Growth, Investing in Local Communities and Environments and Nurturing Talent.
See www.SEGRO.com for further information.