SEGRO plc (‘SEGRO’) today announces the completion of a 52,000 sq ft Audi car dealership for the Sytner Group at Imperial Way, Reading. The unit, pre-let on a 25 year lease term, provides a state of the art facility and officially opened on 8th October. This marks the completion of SEGRO’s redevelopment of the Imperial Way estate, Reading.
Imperial Way is a seven acre site strategically located at the heart of the Thames Valley, less than a mile from Junction 11 of the M4. The estate is now fully let, with Sytner Group joining DPD, which has been operating from its 37,900 sq ft cross-dock parcel delivery centre since 2014.
Sytner Group is the UK’s largest motor dealer by revenue, retailing over 135,000 cars per annum and employing over 8,000 people across the UK. The new facility at Imperial Way, together with its established site at SEGRO’s Slough Trading Estate, will allow the Sytner Group to expand its business operations in the Thames Valley. The Group is relocating to Imperial Way from its existing Audi dealership in Reading, resulting in the retention of 75 jobs in Reading with the potential to increase the number of employees to over 125 by 2020.
Gareth Osborn, Business Unit Director for the Thames Valley and National Logistics, SEGRO, said:
“We are very pleased to hand over the keys to our long-term customer, Sytner Group following practical completion of the Group’s new Audi dealership in the Thames Valley. Our team has worked closely with the Sytner Group during the design and build phase, resulting in the delivery of a state of the art facility, in line with Sytner’s exact specification.
With the Sytner Group joining DPD, Imperial Way is now fully let and today marks the successful completion of SEGRO’s full-scale redevelopment of the estate. During the past 5 years SEGRO has developed over 1.5m sq ft in the Thames Valley, and we are delighted to have helped grow Sytner’s presence in Reading.”
Nigel Mills, Sytner Group’s Property Director, said:
“We are delighted with our new dealership at Imperial Way, Reading. We had been searching for larger premises in the Thames Valley region for a number of years, and this ticks all of the boxes. Our existing relationship with SEGRO meant we were able to work closely with their in-house teams to design something which was both a custom-fit for our business and which also incorporates the very latest version of the Audi brand identity. The new facility will generate new jobs for the community and provide a boost to the local economy.”
Haslams and CBRE acted as SEGRO’s joint agents in the transaction.
Credit: SEGRO Plc
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