SEGRO lands new lease at Gatwick Airport as air cargo demand booms
SEGRO, a leading investor, developer and owner of industrial and logistics space, has agreed a lease on two newly refurbished units at its air freight cargo facility at Gatwick Airport
Leading international air cargo handling and aviation services company Swissport has agreed a five-year lease for a combined 62,400 sq ft of warehouse space at SEGRO Park Gatwick, which at over 500,000 sq ft is the largest and best located air freight facility at the airport.
Swissport is one of SEGRO’s biggest aviation customers across its on-airport portfolio at Heathrow, Gatwick and Stansted. The leasing has increased the developer’s airport portfolio occupancy rate to 98%.
Gareth Baker, Director, Western Corridor at SEGRO, said:
“With airlines embracing long haul opportunities, we are seeing significant growth in air cargo facilities across our airport portfolio. Air cargo volumes are projected to rise by 5.8% in the next year*, highlighting the sector’s robust recovery from the COVID-19 pandemic.
"We are always pleased to see our customers expand with us and this deal is particularly exciting, as it represents our biggest leasing at Gatwick in recent years.
“Additionally, the speed at which we successfully leased these two units is testimony to the high standards of our refurbishment efforts.”
Joe Bellfield, Chief Operating Officer, Cargo UKI at Swissport, said:
“Swissport is delighted to re-enter the London Gatwick Cargo market. With the continued growth in volumes seen within the UK and Ireland, London Gatwick was a logical choice. We believe the long-haul potential of the airport and graphical location blends nicely with the continued expansion of our UK and Ireland cargo business as we grow our physical footprint by 41% in the region.”
This deal represents the 12th lease signed by SEGRO within its airport portfolio at Gatwick, Heathrow and Stansted during 2024.
About SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 10.8 million square metres of space (116 million square feet) valued at £20.6 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.
For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing (including data centres) located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.
A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing Low-Carbon Growth, Investing in Local Communities and Environments and Nurturing Talent.
Striving for the highest standards of innovation, sustainable business practices and enabling economic and societal prosperity underpins SEGRO’s ambition to be the best property company.