Segro intends to pursue net-zero carbon goals as its default business plan. Credit: Edmund DelSol via Pixabay.

UK-based real estate investment trust SEGRO has been selected as a strategic partner of the West Midlands Combined Authority, with a commitment to invest £2bn over the next ten years to develop next-generation, net-zero storage facilities in the region.

Segro seeks to build a sustainable warehouse space measuring 13.5 million square metres throughout the West Midlands by the end of 2033, focusing on technology-enabled logistics facilities and purpose-built spaces for research and development and light manufacturing.

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This development programme is anticipated to create up to 14,000 jobs across a wide range of employment types and industry sectors, supporting the region’s economic growth.

The investment will target a range of warehouse types across the region. This features the construction of Segro Park Coventry, a 450-acre property that received planning permission to create 3.7 million square metres of industrial buildings and warehouses.

Segro intends to pursue net-zero carbon development as its default strategy. It intends to build around 2,700 economic and accessible electric vehicle charging stations at its developments throughout the region.

Segro CEO David Sleath said: “There is a long-term shortage of modern, sustainable industrial employment space in the West Midlands, which is vital to enable the efficient movement of goods across the country and to support high-tech research and development and manufacturing.

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“By working closely with the West Midlands Combined Authority we can identify and unlock brownfield sites for development and deliver critical infrastructure that serves the whole of the UK, creating a diverse mix of local employment and supporting the creation of a more resilient economy across the country.”

West Midlands mayor Andy Street said: “Segro’s investment programme will help regenerate long-neglected areas right across our region – building just the sort of modern premises that companies need to grow – creating high-quality jobs for local people in the process. These next-generation developments will also support our region’s #WM2041 net-zero commitment.

“I look forward to Segro’s investment programme resulting in projects on the ground that change the lives of local people in the months and years ahead.”