The SPZ agreement for the Slough Trading Estate has been renewed for a third successive 10-year period, Segro said in a statement.
Building types eligible for the simplified regime can include warehouses, data centres, and research and development facilities, and permission is granted provided that the development is in accordance with the SPZ scheme terms, which relate to density of development, height of buildings near to residential areas and building sustainability.
Segro claims that during the 2005-2014 SPZ period, 1.6 million square foot of new space has been delivered on Slough Trading Estate, redeveloping 23 per cent of its built space, and it expects a similar amount of space to be developed over the coming five years.
Segro business unit director for Thames Valley Gareth Osborn said the scheme offers "decisive benefits" by enabling Segro to provide assurances to new and existing customers "in terms of speed, flexibility and, importantly, certainty of construction".
Leader of Slough Borough Council Rob Anderson said the scheme will bring "countless benefits", adding: "By providing high quality work premises, employment opportunities will be increased and it will also allow us to implement more sustainable transport measures to reduce congestion."