SEGRO stalls Heathrow development over airport uncertainty

SEGRO is to pause major redevelopment around Heathrow until there is greater clarity over if and when the airport will be expanded. In its full-year results for 2017, released this morning, the warehouse specialist said: “There is significant potential for near- and long-term development within the portfolio. In particular, redevelopment of the Heathrow Cargo Centre remains an important source of development-led growth in future but we are unlikely to commence this until there is greater clarity over expansion of the airport.

PODCAST: David Sleath talks to EG about why the company has been unable to proceed with major Heathrow development, how it is still accessing the land market despite the toppy prices being paid and how it has seen Amazon and other e-tailers evolve in the past year.