New rail hub in Radlett progresses
Logistics facility developer Segro has acquired 419 hectares of land in UK at the location of the former Radlett Aerodrome in Hertfordshire for GBP 120 million (EUR 139.6 million).
The site will be developed into a strategic railfreight interchange supported by more than 334,450 sqm of modern, sustainable logistics warehousing, including ancillary B1 (office, light industrial, research and development) and B2 (general industrial) warehouses.
Works are expected to start on site in summer 2023 with the initial target of this multi-year investment programme focussing on creating the rail connection and preparing the site for development.
The development will incorporate a 247 hectare country park surrounding the terminal. Over 4,000 trees and 132,000 saplings will be planted. Segro said. Railfreight contributes GBP 1.7 billion (EUR 1.98 billion) to the UK economy, with each train removing up to 76 HGV journeys from Britain’s roads. (ben)