Segro Plc · LSE:SGRO
Segro — Merger or Acquisition (March 2025)
16 slides from Segro's merger presentation, Mar 25, 2025
Slide 1: SEGRO announces fully fitted data centre joint venture with Pure Data Centres Group
Enabling extraordinary things SEGRO announces fully fitted data centre joint venture with Pure Data Centres Group 25 March 2025 1
Slide 2: Presenters
Presenters David Sleath Bill Davis Chief Executive Chief Investment Officer SEGRO Pure Data Centres Group 2
Slide 3: SEGRO has a long track record and expertise in the high growth data centre market
SEGRO has a long track record and expertise in the high growth data centre market Slough Trading Estate Owners of Europe's 20 years of largest data centre hub, experience in the on the Slough Trading data centre sector Estate Strong relationships Track record of with global data powered shell centre
Slide 4: 2.3GW of existing and future power capacity in key Availability Zones across Europe
2.3GW of existing and future power capacity in key Availability Zones across Europe 0.5GW Land-enabled power bank Operational and under construction London Berlin Warsaw Slough Düsseldorf Frankfurt 1.8GW Paris Future capacity for pre-lets - Secured (up to 20271): 0.4GW - Reserved (2028-2030): 0.3GW
Slide 5: Illustrative data centre operating models
Illustrative data centre operating models Powered Powered Fully Operational Characteristics: land shell fitted Source land, power and planning Build shell Fit-out (M&E and LLE1) IT equipment Net lease structure Operational and maintenance obligation Capital intensity Low Medium High High Pricing mod
Slide 6: Transaction summary: SEGRO Pure Premier Park Data Centre Limited
Transaction summary: SEGRO Pure Premier Park Data Centre Limited 50:50 joint venture between SEGRO and Pure Data Centres Group (“Pure DC”) Innovative partnership that has allowed us to accelerate a longer-term opportunity and brings together: - 10 acres of land in key London Availability Zone (forme
Slide 7: Pure Data Centres Group Limited
Pure Data Centres Group Limited Innovation driven digital infrastructure organisation focusing on creating irreplaceable assets in infill data centre locations with strong hyperscale customer demand and existing critical infrastructure Established in 2015 and headquartered in London with over 500MW
Slide 8: London: a supply-constrained market
London: a supply-constrained market London is the leading European data centre market with all major London public cloud MW take up1 hyperscalers establishing a presence since 2018 31% CAGR 980 Data centre demand set to grow 2.5x from 2025 to 2030 in UK and Europe2, reflecting significant near-term
Slide 9: SEGRO Pure Premier Park Data Centre Limited
SEGRO Pure Premier Park Data Centre Limited Construction of a fully fitted c.30,000 sq m data centre 70+ MVA power capacity, equating to 56MW IT load1 Expect to pre-let to a hyperscaler on a fully fitted basis Project site 10 acre 70+ MVA site within prime London power capacity Availability Zone (56
Slide 10: Financing and returns
Financing and returns c.£1bn total capital investment Non-recourse project financing Equity funding split 50:50 SEGRO's cash equity contribution c.£150m (in addition to land) Anticipated net yield on cost 9-10% based on excludes based on 31 projected rents finance costs December 2024 and costs land
Slide 11: Indicative project timeline
Indicative project timeline 2025 H2 2025 Target: 2026 +12-18 months +18 months +12 months Joint venture Planning Planning approval Construction of First phase Final phase formed submitted received, customer shell completes of fit-out of fit-out pre-let and and fit-out completes and completes financi
Slide 12: Conclusions
Conclusions Innovative partnership with Pure Significant value creation Each power enabled site will be DC, an experienced operator, to opportunity in our 2.3GW land- assessed on its own merits to invest c.£1bn and create our first enabled power bank located in determine optimal execution fully fitt
Slide 13: SEGRO announces fully fitted data centre joint venture with Pure DC Q&A
SEGRO announces fully fitted data centre joint venture with Pure DC Q&A
Slide 14: Appendices
Appendices 14
Slide 15: Joint venture contributions and responsibilities
Joint venture contributions and responsibilities JV Customer Land (provided by SEGRO) Power (provided by Pure DC) Planning consent Construction of shell Installation of M&E/ LLE: - Generators - Cabling - Cooling system - Fire suppression Installation of IT equipment: - Racking - Servers Maintenance
Slide 16: Disclaimer
Disclaimer This Presentation has been prepared by SEGRO plc solely for use in connection with the 50:50 joint venture between SEGRO and Pure Data Centres Group (the “Transaction”). For the purposes of this disclaimer, ‘Presentation’ shall mean this document, the oral presentation of the slides by SE