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SEGRO & PURE DATA CENTRES GROUP ANNOUNCE £1BN JV
SEGRO & PURE DATA CENTRES GROUP ANNOUNCE £1BN JV.
About this update from Segro Plc
[{"type":"text","content":"\n\n\n \n25 March 2025\nSEGRO plc (\"SEGRO\")\nsegro and pure DATA CENTREs Group announce joint venture\nto develop a c.£1BN fully fitted data centre\nKEY MESSAGES:\n· SEGRO announces formation of joint venture with Pure Data Centres Group Limited (\"Pure DC\"), owned by Oaktree, to create its first fully fitted data centre, which it expects to pre-lease to a hyperscaler.\n· Innovative partnership to develop a 56MW data centre in Park Royal, within a core London Availability Zone that has limited competing supply of land and power.\n· Gross capital investment anticipated to be c.£1 billion (of which SEGRO's cash equity contribution will be c.£150 million) and is expected to deliver a 9 to 10 per cent net yield on cost.\n· Secretary of State for the Department of Science, Innovation & Technology (DSIT), the Rt. Hon. Peter Kyle MP commented: \"Private investment like this innovative partnership between SEGRO and Pure DC will help us ensure the UK has the digital infrastructure it needs to thrive…\"\n \nDavid Sleath, CEO of SEGRO, said:\n\"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.\n\"This innovative joint venture with Pure DC allows us to develop our first fully fitted data centre, alongside a highly experienced partner with an excellent track record of delivering world-class facilities to global hyperscalers.\n\"We expect this project to deliver an attractive risk-adjusted return and it will also help further strengthen SEGRO's expertise in this area, enabling us to optimise and accelerate the significant value creation opportunity within our portfolio.\"\nDame Dawn Childs, CEO of Pure DC, said:\n\"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. Together we will develop a 56MW data centre in central London capable of handling next-generation cloud and AI workloads.\n\"This joint venture demonstrates Pure DC's ability to scale in a rapidly expanding market, creating fresh opportunities for growth and investment. With over 500MW ...