Warehouse developer Segro said it had confidently entered 2025 knowing that demand for shed space would continue, with the markets in which it operated still experiencing shortages.
The comments came as it released financial figures which showed it made an adjusted pre-tax profit of £470m last year.
This was a rise of 14.9% on 2023 and was attributed to increased rental incomes and lower interest costs.
In 2024, Amazon said it would create 2,000 jobs when a new fulfilment centre on Segro’s logistics park in Northampton opened; a 134,500sq ft facility was also completed for Segro by Glencar at its V-Park Grand Union in West London.
In addition, Yusen Logistics signed a contract for a 1.2m sq ft shared user warehouse facility in Northampton.
David Sleath, Segro chief executive said: “Our business, with its high-quality, well-located, urban-weighted portfolio, exceptional land bank and strong balance sheet is primed for further growth.
“Having seen conversations with occupiers pick up pace in recent weeks, we expect leasing and pre-letting activity to increase.”
Chris Tindall started writing for the haulage and logistics industry in 2002 and quickly realised there was enough going on to keep him busy for a very long time.View full Profile
