LONDON (ShareCast) - Real investment trust Segro has renewed its simplified planning zone (SPZ) agreement with Slough Borough Council.
Under the deal, which has now been renewed three times, Segro will be granted full planning permission for the construction of industrial building on the Slough's Trading Estate, provided that the development is in accordance with the SPZ scheme terms.

"This SPZ agreement is the culmination of productive discussions with our partners at Slough Borough Council who, like us, recognise the decisive benefits offered by the assurances it enables us to provide," said Gareth Osborn, SEGRO's business unit director for Thames Valley.

The group added that during the 2005-2014 SPZ period, 1.6m square feet of new space was delivered on the site, with a similar amount expected to be delivered over the next five years.

Councillor Rob Anderson, leader of Slough Borough Council, said the SPZ was pivotal to ensure the Trading Estate's success and was, consequentially, vital to the local economy.

"As the largest business area in the borough, the Slough Trading Estate provides around a quarter of Slough's jobs," he said.

"Therefore, its continued success is vital to the local economy and the prosperity of the town as a whole."

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