Three new companies, including a global automotive giant, have signed leases at SEGRO Park Coventry, bringing almost 1.7 million sq ft of the huge logistics site to fully let status.
Property developer SEGRO announced on Wednesday that it has signed deals covering around 540,000 sq ft of space at the site, south of Coventry city centre near the A45 and Coventry Airport.
The agreements will bring in £6 million of annual rent, part of the £53 million of new headline rent SEGRO says it secured across the UK during the first half of 2026.
Volvo Group UK moving parts operation to Coventry
Volvo Group UK has signed a pre-let agreement for a 91,000 sq ft distribution centre, to be purpose built on a 4.7 acre plot at the entrance to the park. The facility is expected to become operational in early 2027 and will handle the storage and distribution of vehicle parts for Volvo’s UK and Ireland network.
Sabrina Loyer, General Manager for Service Operations and Technology at Volvo Group UK, said the move was “a significant investment in the future of Volvo Group UK’s parts distribution network” that would help strengthen supply chain resilience and improve service for its dealer network.
DIRKS Consumer Logistics relocating within Coventry
DIRKS Consumer Logistics, part of the German owned DIRKS Group, has agreed to take 306,000 sq ft in a pre-let warehouse. The firm, which handles warehousing, order fulfilment and distribution for retail brands including online pet store Zooplus, is relocating from another business park elsewhere in Coventry once the new building is finished in the first half of 2027.
GigaCloud Technology takes completed warehouse
The third deal sees B2B technology firm GigaCloud Technology lease an entire 140,500 sq ft unit that SEGRO had already built on a speculative basis, meaning it was constructed before a tenant was found.
Thousands of jobs planned for the site
SEGRO Park Coventry is being developed in phases and will eventually provide 3.7 million sq ft of industrial and warehouse space. Once fully built and occupied, the site is expected to support up to 5,000 jobs, according to SEGRO. Existing occupiers at the park include logistics firm DP World, which already held around 600,000 sq ft of space there, its largest UK warehouse, before agreeing a further 220,000 sq ft unit next door, due for full occupation from spring 2026, along with courier firm DHL.
The wider Coventry Park scheme forms part of SEGRO’s pledge to invest at least £2 billion in the West Midlands by 2033, delivering 13.5 million sq ft of warehouse space and supporting up to 14,000 jobs across the region.
Dan Holford, SEGRO’s Head of National Markets, said the latest lettings reflected “strong momentum” at the Coventry site and across the company’s UK portfolio, pointing to continued demand for well located logistics space.
Richard Parker, Mayor of the West Midlands, welcomed the investment, saying that partnerships between companies such as SEGRO and local and regional stakeholders were “vital for attracting the big name companies who bring thousands of jobs with them,” and that his Growth Plan aimed to ensure local people were “first in line to benefit from the jobs and opportunities” the developments create.
Buildings target top sustainability ratings
All units at the park are being built to target BREEAM “Excellent” certification and an EPC A energy rating. Previous phases of the development have included features such as solar panels, electric vehicle charging points, LED lighting and rainwater harvesting. A previous SEGRO Park Coventry report found 56 per cent of existing occupiers’ employees were commuting sustainably, by walking, cycling, public transport or car sharing, almost triple the original first year target of 20 per cent.
Shares in SEGRO, a member of the FTSE 100, were trading at around 861p on Wednesday morning, up slightly on the day.
