Equinix Bets Big On Slough Data Centres: The London Deal Sheet
The Deal Sheet is a weekly compilation of Greater London and beyond's biggest leases, sales, financing deals, construction updates and personnel moves. Have news you’d like to submit? Email mark.faithfull@bisnow.com.
Equinix has launched a £280M commercial mortgage-backed securitisation underpinned by two of its flagship data centres in Slough.
The single-loan transaction is secured against Equinix's LD11 and LD13 facilities in Slough, one of Europe's largest and most established data centre clusters. The assets sit within the company's London campus, which serves cloud providers, enterprises and network operators.
The Nasdaq-listed operator, which is majority owned by Singapore sovereign wealth fund GIC, last year announced plans to invest £3.9B in UK digital infrastructure.
Equinix has maintained a significant presence in Slough for more than two decades and continues to expand its footprint. The company is progressing new developments in the area, including additional capacity on Banbury Avenue and plans for a major campus on the former AkzoNobel site.
DEALS
Invesco Real Estate has acquired a Class-A logistics facility at Midlands Logistics Park in Corby on behalf of a German separate account mandate.
Fully tenanted by UK-based Europa Worldwide Group, Europa Park Corby comprises a national distribution warehouse built in 2020. The 527K SF unit has an energy performance certificate A rating and is certified BREEAM Very Good in construction.
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Landsec has fought off competition from retailer Frasers Group and entered into exclusive talks to acquire the 2M SF Metrocentre shopping centre in Gateshead.
The sale, which is being overseen by Knight Frank, is thought to be in excess of £500M for the largest UK shopping destination outside London, attracting around 16 million visitors last year. It is managed by CBRE through its Sovereign Centros division.
The centre was bought following the collapse of Intu in 2020 by the Metrocentre Partnership, an investment group that includes institutional investors such as the Church Commissioners for England and Singapore sovereign wealth fund GIC Real Estate.
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CBRE Investment Management, on behalf of CBRE UK Single Family Housing Partners, has completed the acquisition of a 222-home single-family housing portfolio in the South East of England from UK housebuilder Bellway.
The transaction is a seed investment for CBRE IM’s newly launched SFHP strategy, established in partnership with Moda Living. The platform is focused on delivering and operating professionally managed rental homes in structurally undersupplied UK markets.
The portfolio comprises a mix of completed homes and forward-funded development across three sites in Stevenage, Milton Keynes and Burgess Hill. All homes are expected to be delivered by the end of 2027.
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Plans to replace three gasholders in Motspur Park, southwest London, with apartment blocks up to 16 storeys tall have been approved.
The plans from gas firm SGN and developer Berkeley Homes involve demolishing three gasholders on protected land in Motspur Park to make way for five blocks with 586 homes, including 175 affordable flats, with the buildings ranging from eight to 16 storeys tall.
The Greater London Authority took over the planning decision after Kingston Council rejected the application in March over concerns its mass, height and scale would harm the openness of the site and were out of character for the area.
FUNDING
Europa has secured an £89.1M green loan from HSBC UK to finance two recently developed and stabilised UK logistics assets along the M1 distribution corridor.
Developed in partnership with logistics developer Panattoni, the assets are occupied with long-term lettings. The first site, Panattoni Park South Normanton, is a 575K SF facility within an established logistics hub in the East Midlands. Panattoni Park Rotherham comprises 710K SF and is positioned within the M1-M18 triangle.
Both sites include an EPC A rating and BREEAM Very Good certification.
PLANNING
The Crown Estate has submitted plans for a £2B overhaul of Cambridge Business Park to create up to 1.8M SF of laboratories, offices, and research and development space alongside 500 homes in the North East Cambridge Innovation District.
The redevelopment would transform the existing business park into a mixed-use neighbourhood with nearly 60K SF of retail, cafés, bars and restaurants, new public realm squares and green spaces.
Plans also include 40% affordable housing, up to 200 coliving homes, new walking and cycling routes, a bus stop and improved links to Cambridge North station.
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Tritax Big Box REIT has received planning consent for its 107-megawatt Manor Farm data centre in the Slough Availability Zone. The approval follows the conclusion of a judicial review.
The company has also secured an accelerated route to power delivery, with a pre-let agreement now progressing through legal documentation. The Manor Farm scheme is expected to generate a yield on cost of 9.3%.
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Development of Sunderland’s flagship Crown Works film studios could start this autumn after final plans for the first phase were submitted for approval.
The revised application, lodged with Sunderland City Council, set out detailed design for Studio One, the opening phase of the 31-hectare Crown Works Growth Zone regeneration on the south bank of the River Wear.
The revised planning application followed a rethink of the original project after private backers Cain International and Fulwell Entertainment stepped away from the £450M master plan.
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HG Construction has secured Gateway 2 approval to start work on a 239-bed purpose-built student accommodation scheme in Manchester for Singapore developer Far East Orchard.
The Plymouth Grove development will deliver 239 student rooms on a site close to both the University of Manchester and Manchester Metropolitan University. Completion is targeted for 2028.
Far East Orchard acquired the 275-year leasehold site in April 2025 for £10.9M through its Far East UK Student Accommodation Development Fund, which closed with £96M of committed capital. The accommodation will be operated by Homes for Students, a subsidiary of Far East Orchard.
LEASING
NewRiver has reported strong leasing momentum during the first quarter, with 166K SF of new lettings and renewals completed across 71 transactions, securing £1.8M of annualised rent.
Occupancy increased to 95.4%, from 95.0% at 31 March, with tenant retention remaining high at 96%, the company said.
NewRiver also acquired Bravo’s 90% interest in The Moor, Sheffield, for £38.3M, taking ownership to 100%. Anchored by The Light, Primark, Sainsbury's, Next and Sports Direct, the property’s recent lettings include HSBC, Oseyo, Five Guys and Popeyes.
PEOPLE
Knight Frank has appointed David Churchill as partner within its planning team for the firm’s land and development advisory services.
Churchill joined Knight Frank with more than 25 years of experience in securing large-scale planning permissions, having advised many of the country's leading housebuilders, land promoters, institutional investors and landowners, the company said.
Based at Knight Frank's Baker Street headquarters and reporting to Chris Benham, head of planning, London, Churchill will have a particular focus on green belt, greenfield, urban extension and garden community projects.
