SEGRO Leases 537,500 SF to GigaCloud Technology, DIRKS Consumer Logistics and Volvo Group UK at SEGRO Park Coventry

SEGRO has signed three new leases totaling 537,500 square feet at SEGRO Park Coventry, adding GigaCloud Technology, DIRKS Consumer Logistics and Volvo Group UK to the tenant roster at the industrial and logistics development in Coventry, England, the company announced July 15, 2026.

The three deals — spanning a build-to-suit warehouse, a pre-let facility and a speculatively developed unit — add an aggregate £6 million of new rent. The leases were included in the £53 million of new headline rent SEGRO reported securing during the first half of 2026, as disclosed in the company's trading update on July 8, 2026.

Deal Breakdown: Three Tenants, Three Demand Channels

Volvo Group UK will occupy a 91,000-square-foot build-to-suit warehouse that SEGRO will develop on a 4.7-acre plot at the entrance to the park. The facility is expected to be operational in early 2027 and will function as a distribution centre supporting the storage and distribution of vehicle parts across Volvo Group networks in the UK and Ireland.

"Our move to SEGRO Park Coventry is a significant investment in the future of Volvo Group UK's parts distribution network and will support our continued growth across the UK and Ireland," said Sabrina Loyer, General Manager, Service Operations & Technology, Volvo Group UK. "The purpose-built, highly efficient facility will give us the capacity and flexibility to strengthen supply chain resilience, improve service levels for our dealer network and support a more sustainable, future-ready operation."

DIRKS Consumer Logistics, a UK-based supply chain solutions firm and part of the German-headquartered DIRKS Group, has taken 306,000 square feet in a pre-let warehouse facility. The company, which provides warehousing, order fulfilment and distribution services for retail brands including European online pet retailer Zooplus, will relocate from its current base at another Coventry business park when the development completes in the first half of 2027. SEGRO said the move is part of DIRKS Consumer Logistics's plan for strategic growth as a third-party logistics provider.

GigaCloud Technology, a global B2B technology solutions provider, has leased an entire 140,500-square-foot speculatively developed unit at the park.

SEGRO Park Coventry: Scale and Current Absorption

SEGRO Park Coventry is situated on a 73-acre site and is planned to deliver up to 3.7 million square feet of industrial and distribution space at full build-out. Including the three new leases, nearly 1.7 million square feet of space is now leased at the park. Existing tenants include DP World and DHL. Once fully occupied, the park is expected to support up to 5,000 jobs.

All three units are being developed to target BREEAM 'Excellent' certification and an EPC A energy rating, according to SEGRO.

"These lettings reflect the strong momentum we are seeing at SEGRO Park Coventry and this demand is not limited to this site: we are seeing similarly positive activity across our UK big box portfolio, underlining the continued need for high-quality, well-connected space in the right locations," said Dan Holford, Head of National Markets at SEGRO.

"They also demonstrate the important role SEGRO plays in attracting and enabling international investment into the UK and the West Midlands. By providing the right infrastructure in the right locations, developments such as SEGRO Park Coventry create the conditions for globally mobile businesses to invest and grow here, supporting jobs, strengthening supply chains and driving economic growth," Holford added.

Regional Economic Context

Richard Parker, Mayor of West Midlands, commented on the leasing activity, linking it to broader regional investment goals. "The right sort of investment into business infrastructure by companies like SEGRO and a partnership approach with local and regional stakeholders, as we have seen in Coventry, are vital for attracting the big-name companies who bring thousands of jobs with them," Parker said. "My Growth Plan is all about securing the confidence of investors and making sure local people are first in line to benefit from the jobs and opportunities that come with it."

About SEGRO

SEGRO is a UK Real Estate Investment Trust listed on the London Stock Exchange and Euronext Paris. The company owns, manages and develops warehousing, industrial property and data centres across the UK and seven other European countries, with a portfolio of 10.9 million square metres, or approximately 117 million square feet, of space. The company was founded in 1920.