The firm aims to deliver 13.5m sq ft of sustainable warehouse space across the West Midlands by the end of 2033, focused on tech-enabled logistics facilities, R&D space and light manufacturing.

The investment will be focused on a mix of warehousing types across the region.

Planned expansion of Segro Park Coventry

This includes the development of SEGRO Park Coventry – a 450-acre site that has planning permission for the construction of 3.7m sq ft of industrial buildings and warehouses.

It also plans to develop approximately 2,700 electric vehicle charging points at its developments across the region.

The 10-year programme includes plans for SEGRO to run dedicated skills and training programmes to support 5,000 local young people into employment and provide a further 1,000 apprenticeship opportunities in construction.

David Sleath, chief executive officer, SEGRO 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 & Development and manufacturing.

“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.”