Principal hires Segro’s Lewis to head data centre drive

Principal Real Estate Europe has appointed Paul Lewis, formerly with Segro, as director of European data centres, a newly created role.

Lewis will be responsible for data centre asset and transaction management. At Segro he was latterly director of group data centres and during his time with the company presided over the growth of the group’s largest asset, Slough Trading Estate, which now has 29 data centre facilities operated by companies such as Equinix, CyrusOne, Virtus, and NTT.

Andrew Thornton, CEO of Principal Real Estate Europe, said: “This is a major appointment for our European business, demonstrating the scale of our ambition to unlock opportunities on behalf of our investors in the increasingly popular European data centre market.”

Lewis said that data centres have come of age. “The sector is characterised by huge and growing occupier demand and is restricted by supply of existing assets and good quality locations with proximity to a combination of power and connectivity. Operating effectively in this market demands a deep understanding of many factors, including specific occupier requirements and the various local regulations governing these assets.”