SEGRO and Pure Data Centres Group Announce £1bn JV for New Data Centre
Why we think this is neutral
This RNS announcement does not fall into any of the mandatory news categories, so a neutral sentiment score is appropriate. The announcement details a new joint venture between SEGRO and Pure Data Centres Group to develop a £1 billion data centre project, which is an operational update rather than a financial or trading update.
Key Points
- SEGRO and Pure Data Centres Group have formed a £1 billion joint venture to develop a fully fitted data centre in Park Royal, London
- The data centre will have a 56MW IT load and is expected to be pre-leased to a hyperscaler
- SEGRO will contribute the land while Pure DC will provide 70MVA of secured power
- The joint venture expects to deliver a 9-10% net yield on cost
Summary
The real estate investment trust has formed a joint venture with a data centre operator to develop a £1 billion data centre project in London.
SEGRO and Pure Data Centres Group have announced the formation of a 50:50 joint venture to develop a c.£1 billion fully fitted data centre in Park Royal, West London. The joint venture will combine SEGRO's expertise in planning and development with Pure DC's experience in delivering operational data centres. The project is expected to deliver a 9-10% net yield on cost and be pre-leased to a hyperscaler.
Key Dates
2026
Construction of the data centre shell to commence
2029
Fully fitted data centre space available for customer use
GENERAL UPDATE