SEGRO expects to sign a pre-let with a major hyperscaler "in the coming months" for its first fully fitted data centre, the joint venture with Pure Data Centres Group at Premier Park in Park Royal, west London. The update came in the company's nine-month trading statement published on 21 October 2026, which said negotiations were ongoing and that timing remained in line with its previous expectations.
No occupier has yet been secured and SEGRO has not named the hyperscaler involved. The statement refers only to the "first fully fitted data centre in West London", but SEGRO's July trading update identified that scheme as Park Royal, where the joint venture is redeveloping a 10-acre former Matchesfashion warehouse site. When SEGRO announced a second joint venture with Pure DC in Paris in July, it said marketing of the Park Royal facility had started and that it was in discussions with two prospective customers, each interested in taking the whole building.
Illustrative hyperscale data centre representing the infrastructure required to support artificial intelligence and high-density computing. Illustration: London Construction Magazine.
Planning Position
The Old Oak and Park Royal Development Corporation's planning committee resolved unanimously on 26 February 2026 to grant permission for application 25/0196/FUMOPDC at Unit F, 6 Premier Park Road. The scheme involves demolition of the existing building and construction of a 25,281 sq m (GEA) data centre, with the resolution subject to conditions and a Section 106 agreement that includes a £935,327 affordable workspace contribution. SEGRO said in March that committee approval had been received and that the planning process was still to be finalised. LCM has not been able to confirm from the published record whether the Section 106 agreement has since been completed and the decision notice issued.
Designed by Scott Brownrigg, the three-storey building contains nine liquid-cooled data halls with offices, plant and a secure entrance pavilion. SEGRO has said the site has 70MVA of incoming power secured by Pure DC. Its March 2025 joint-venture presentation equated the supply to about 56MW of IT load, while Scott Brownrigg's planning announcement refers to a dedicated substation capable of supporting a 72MW data centre.
Funding and Delivery Model
The joint venture is owned 50:50 by SEGRO and Pure DC. SEGRO's 2025 presentation put the total capital investment at about £1bn, to be funded through non-recourse project finance, with SEGRO contributing roughly £150m of cash equity alongside the land. That figure covers the whole fully fitted development rather than a construction contract, and no main-contract value has been disclosed.
The fully fitted model is a departure for SEGRO, which has previously delivered powered shells for data-centre customers to fit out themselves, including on the Slough Trading Estate. At Park Royal the joint venture would deliver the mechanical and electrical installation, with the hyperscaler taking the completed facility on a net lease and operating it. The scope of a future main contract would therefore extend well beyond the shell into HV electrical infrastructure, cooling plant and long-lead M&E equipment, together with testing and commissioning. No main contractor has been publicly named. LCM's London data centre pipeline analysis in August also listed the delivery team as unconfirmed.
Programme
SEGRO's project page for Premier Park sets out an anticipated programme, which it describes as subject to change. Demolition of the existing building and the start of substation construction were planned for September 2026, followed by enabling and piling works in the autumn and data-centre construction in the first quarter of 2027, with completion expected in 2028. The trading update gives no report of physical progress on site, and LCM has not confirmed whether demolition has started.
SEGRO's 2025 timeline grouped planning approval, the pre-let, project financing and the start of shell construction together in 2026. Park Royal sits within the established west London cluster, where grid capacity has become the critical-path constraint for new data-centre capacity, and power has already cost other schemes their customers. At Nscale's planned facility in Loughton, Microsoft ended its agreement after the developer was told grid supply was not expected until the 2030s. Premier Park enters its customer negotiations with planning committee support and incoming power already secured.
The Park Royal update sits within a wider development pipeline that SEGRO said had grown to £103m of potential annual rent across projects under construction or in advanced negotiations, around two-thirds of it linked to pre-lets. The company is also the subject of a recommended takeover by Prologis, which SEGRO shareholders approved on 28 September and which is expected to complete in the first half of 2027, subject to regulatory processes. The next confirmed step for Premier Park is the hyperscaler pre-let, which SEGRO expects to sign in the coming months.
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