SEGRO has teamed up with Pure Data Centres Group (Pure DC), owned by Oaktree, to form a joint venture aimed at developing a fully fitted data centre in Park Royal, West London. The project represents SEGRO’s first fully fitted data centre development and is set to deliver a 56MW facility designed to support next-generation cloud and AI workloads.
This innovative partnership will focus on constructing a 30,000 m², three-storey data centre on SEGRO Park Premier Road, a prime industrial estate located within a core London Availability Zone. The data centre will be built to high sustainability standards and feature energy-efficient technologies, including a closed-loop liquid cooling system.
David Sleath, CEO of SEGRO, commented: “Building on our 20 years of experience in the powered shell data centre market, we have been exploring how best to utilise our skills and 2.3GW land-enabled power bank to maximise the opportunity in this fast-growing sector.”
With a gross capital investment expected to reach €1.1bn, SEGRO will contribute land and approximately €175m in equity, while Pure DC will provide 70MVA of secured power. The joint venture aims to deliver a strong return on investment with a projected 9 to 10 per cent unlevered net yield on cost.
Dame Dawn Childs, CEO of Pure DC, added: “SEGRO choosing to enter into a joint venture with Pure DC for its first fully fitted data centre development demonstrates our capability to create world-class digital infrastructure.”
The 56MW facility is expected to meet increasing demand in one of Europe’s largest data centre markets, where land and power availability are limited. The development aligns with SEGRO’s long-term strategy to expand its data centre portfolio, which now includes fully fitted projects.
The data centre is slated to begin construction in 2026, with completion targeted for 2029. The joint venture plans to sign a long-term lease with a global hyperscaler, underscoring the growing demand for data centre capacity in London. During the construction phase, the project is set to create hundreds of jobs, while also providing educational and employment opportunities for the local community.
The development will also contribute to SEGRO’s Responsible SEGRO framework, which focuses on investing in local communities, fostering talent, and prioritising sustainability.
For more information on SEGRO and Pure Data Centres Group, visit SEGRO and Pure DC.
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