Segro Secures £6M in Rent from Three Leases at Coventry Over 540,000 Sq M
Segro has finalized three lease agreements at the Coventry logistics park, covering approximately 540,000 square meters. The three new clients (Volvo Group UK, Dirks Consumer Logistics, and GigaCloud Technology) join existing occupants at the site.
Three New Tenants for Coventry Park
Segro has signed three separate leases within its Coventry logistics park. Volvo Group UK will rent a custom-built warehouse of 91,000 square meters, intended to serve as a new distribution center for the automotive group's spare parts. Dirks Consumer Logistics will occupy 306,000 square meters in a pre-lease facility, while GigaCloud Technology will take over an entire speculative unit of 140,500 square meters.
The entire Segro Park Coventry spans 73 acres and will offer 3.7 million square meters once fully developed. To date, 1.7 million square meters are leased, with other occupants including DP World and DHL.
£6 Million in Annual Rents Generated
These three leases generate an additional amount of £6 million in rents. This figure is part of the £53 million in new rents that Segro announced it had secured during the first half of 2026, in its commercial update on July 8, 2026.
The facilities are developed to a high-market specification, aiming for a BREEAM 'Excellent' certification and an EPC A energy rating. The park is expected to employ up to 5,000 people once fully occupied.
Timeline and Context of Deliveries
The custom-built warehouse for Volvo Group UK is expected to be operational by early 2027. Dirks Consumer Logistics will relocate from its current site in Coventry once construction is completed in the first half of 2027. These signings come after Segro's announcement on July 2, 2026, of forming a joint venture to develop three major UK logistics parks in partnership with a major institutional investor.
