{"text_format":"2","workbook":"xlsx","n_sheets":22,"sheets":["Cover","Intro","Overview","Overview 2","Portfolio & Yield Rec.","Combined Portfolio","Top 10 Estates","Asset Type","Asset Type 2","Asset Type 3","Geography","Geography 2","Supplementary Data","Supplementary Data 2","Supplementary Data 3","Customers","Summary Development Pipeline","Current Development Projects","Completed Projects","Glossary","Glossary 2","Back Page"],"not_rendered":{"charts":0,"images":12,"macros":0,"external_links":0,"defined_names":21,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"run_cost":"one","rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Cover","index":0,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[[6,1,6,8],[6,10,6,17],[6,19,6,26]]}

{"sheet":"Intro","index":1,"n_rows":21,"n_cols":9,"rows_kept":21,"cut":false,"hidden":false,"merged":[[3,8,26,24]]}
[{"$nulls":8}," ABOUT SEGRO"]
[]
[]
[{"$nulls":8},"SEGRO is a leading owner, asset manager and developer of modern warehousing and light industrial properties, with £21.3 billion of assets under management (£18.4 billion including SEGRO’s share of joint ventures). The assets are principally concentrated in key conurbations and major distribution hubs in nine European countries.\n\nThe Group serves customers spread across a diverse range of industry sectors. It has 9.6 million square metres of built space under management and annual rental income of £518 million at share."]
[null,3,"Overview"]
[]
[null,4,"Combined property portfolio and yield reconciliation"]
[]
[null,5,"Combined property portfolio"]
[]
[null,6,"Top 10 Assets"]
[]
[null,7,"Analysis of portfolio"]
[]
[null,12,"Supplementary data"]
[]
[null,15,"Customer types"]
[]
[null,16,"Development pipeline"]
[]
[null,19,"Glossary of terms"]

{"sheet":"Overview","index":2,"n_rows":28,"n_cols":14,"rows_kept":28,"cut":false,"hidden":false,"merged":[[7,13,12,18],[17,13,22,18],[27,13,32,18]]}
[null,"OVERVIEW"]
[]
[{"$nulls":8},"THE BUILDINGS WE PROVIDE"]
[]
[]
[null,"Geographical split by value",{"$nulls":10},"BIG BOX WAREHOUSES"]
[null,"(SEGRO share)"]
[{"$nulls":13},"Big box warehouses are typically used for storage and processing of goods for regional, national and international distribution. The requirement for large land plots means that they tend to be located some distance from the ultimate customer but on major transport routes (mainly motorways, but also ports, rail freight terminals and airports) to allow rapid transit."]
{"$rows_empty":7}
[{"$nulls":12},"URBAN WAREHOUSES"]
[]
[{"$nulls":13},"Urban warehouses are located within easy reach of population centres and business districts. They are used by a wide variety of customers who need rapid access to their own customers and to labour and are therefore close to main roads and public transport. Land supply in and around urban areas tends to be less available so urban warehouses tend to be smaller. They are often clustered in estates which can comprise multi-let terraces of smaller units (typically less than 3,500 sq m), larger detached single-let warehouses (typically larger than 3,500 sq m) or a mixture of the two."]
[]
[]
[]
[null,"Asset type by value (excluding land)"]
[null,"(SEGRO share)"]
[]
[]
[{"$nulls":12},"OTHER USES OF INDUSTRIAL LAND"]
[]
[{"$nulls":13},"Industrial land in urban areas is often used for non-warehouse purposes. Car showrooms, self storage facilities, budget hotels and offices require similar location characteristics to urban warehouses (close to major roads, public transport and a population centre) and the frontage of urban estates is often best used by such occupiers who benefit from a location with high visibility to passing trade."]

{"sheet":"Overview 2","index":3,"n_rows":26,"n_cols":9,"rows_kept":26,"cut":false,"hidden":true,"merged":[]}
[null,"OVERVIEW"]
[]
[{"$nulls":8},"NEW PROPERTY CLASSIFICATIONS"]
[]
[]
[null,"Urban warehouses split by sub-category"]
[null,"(SEGRO share)"]
{"$rows_empty":17}
[{"$nulls":8},"During the period, we have re-classified the Group's properties to more accurately reflect the nature of the portfolio"]
[{"$nulls":8},"on a size and location basis."]

{"sheet":"Portfolio & Yield Rec.","index":4,"n_rows":36,"n_cols":10,"rows_kept":36,"cut":false,"hidden":false,"merged":[[3,9,4,9],[3,4,4,4],[3,5,4,5],[3,6,4,6],[3,7,4,7],[3,8,4,8]]}
[null,"COMBINED PROPERTY PORTFOLIO AND YIELD RECONCILIATION AS AT 31 DECEMBER 2021"]
[]
[]
[{"$nulls":7},"UK\n£m","Continental\nEurope\n£m","Total\n£m"]
[null,"Combined property portfolio (including share of joint ventures)"]
[null,"COMBINED PROPERTY PORTFOLIO PER FINANCIAL STATEMENTS",{"$nulls":5},12151,6295,18446]
[null,"Add valuation surplus not recognised on trading properties and other items",{"$nulls":5},0,1,1]
[null,"Less capitalisation of leasehold obligations under IFRS 16",{"$nulls":5},0,-70,-70]
[null,"COMBINED PROPERTY PORTFOLIO PER EXTERNAL VALUERS' REPORTS",{"$nulls":5},12151,6226,18377]
[null,"Less land and development properties (investment, trading and joint ventures)",{"$nulls":5},-1021,-617,-1638]
[null,"NET VALUATION OF COMPLETED PROPERTIES",{"$nulls":5},11130,5609,16739]
[null,"Add notional purchasers' costs",{"$nulls":5},754,267,1021]
[null,"GROSS VALUE OF COMPLETED PROPERTIES INCLUDING NOTIONAL PURCHASERS' COSTS",{"$nulls":4},"A",11884,5876,17760]
[]
[]
[null,"Rental income",{"$nulls":5},"£m","£m","£m"]
[null,"Gross passing rent1",{"$nulls":5},334,206,540]
[null,"Less irrecoverable property costs",{"$nulls":5},-4,-8,-12]
[null,"NET PASSING RENT",{"$nulls":4},"B",330,198,528]
[null,"Adjustment for notional rent in respect of rent free periods",{"$nulls":5},33,28,61]
[null,"TOPPED UP NET RENT",{"$nulls":4},"C",363,226,589]
[null,"Including future fixed/minimum uplifts3",{"$nulls":5},10,0,10]
[null,"TOTAL TOPPED UP NET RENT",{"$nulls":5},373,226,599]
[]
[]
[null,"Yields",{"$nulls":5},"%","%","%"]
[null,"EPRA net initial yield2",{"$nulls":4},"B/A",2.7758000000000003,3.3659000000000003,2.9735106464332661]
[null,"EPRA topped up net initial yield2",{"$nulls":4},"C/A",3.0511099478357462,3.8422160747548673,3.3128520425303827]
[null,"Net true equivalent yield",{"$nulls":5},3.6812999999999998,4.0167999999999999,3.7937079340422986]
[]
[null,"Exchange Rate £1:€1.19"]
[]
[null,1,"Gross passing rent excludes short term lettings and licences."]
[null,2,"In accordance with the Best Practices Recommendations of EPRA."]
[null,3,"Certain leases contain clauses which guarantee future rental increases, whereas most leases contain five yearly, upwards only rent review clauses (UK)"]
[null,null,"or indexation clauses (Continental Europe). Further detail on page 13."]

{"sheet":"Combined Portfolio","index":5,"n_rows":30,"n_cols":14,"rows_kept":30,"cut":false,"hidden":false,"merged":[[18,11,19,11],[18,12,19,12],[18,13,19,13],[18,8,19,8],[10,3,10,4],[10,6,10,7],[10,9,10,10],[11,3,11,4],[11,6,11,7],[11,9,11,10],[18,3,19,3],[18,4,19,4],[18,5,19,5],[18,6,19,6],[18,7,19,7],[18,9,19,9],[18,10,19,10],[8,3,8,4],[8,6,8,7],[8,9,8,10],[9,3,9,4],[9,6,9,7],[9,9,9,10],[6,3,6,4],[6,6,6,7],[6,9,6,10],[7,3,7,4],[7,6,7,7],[7,9,7,10],[5,3,5,4],[5,6,5,7],[5,9,5,10],[3,3,3,8],[4,3,4,4],[4,6,4,7],[4,9,4,10]]}
[null,"COMBINED PROPERTY PORTFOLIO AS AT 31 DECEMBER 2021"]
[]
[]
[null,null,null,"Value at 31 December 2021 £m"]
[null,"Analysis of unrealised valuation movements",null,"UK",null,"Valuation\nmovement1\n%","Continental Europe",null,"Valuation\nmovement1\n%","Group",null,"Valuation\nmovement1\n%"]
[null,"Properties held throughout the year",null,9712,null,34.5,4575,null,18.7,14287,null,28.999999999999996]
[null,"Properties acquired during the year",null,929,null,-0.1,191,null,11.4,1120,null,1.7000000000000002]
[null,"Development completed during the year",null,489,null,71.7,843,null,53.800000000000004,1332,null,59.9]
[null,"COMPLETED PROPERTIES",null,11130,null,32,5609,null,22.6,16739,null,28.7]
[null,"Buildings under construction",null,513,null,90.8,275,null,39,788,null,68.899999999999991]
[null,"Land2",null,508,null,4.3999999999999995,342,null,10.7,850,null,6.8000000000000007]
[null,"WHOLE PORTFOLIO",null,12151,null,32.200000000000003,6226,null,22.5,18377,null,28.799999999999997]
[]
[null,1,"The valuation movement percentage is based on the difference between the opening and closing valuations for properties, allowing for capital expenditure, acquisitions and disposals. "]
[null,2,"For land and properties acquired during the year, opening valuation is acquisition cost including notional purchasers’ costs which are not recognised under IFRS accounting standards."]
[]
[]
[]
[null,null,null,"London","Thames Valley","National Logistics","France","Italy","Spain","Poland","Czech Republic","Germany","Netherlands","Total"]
[null,"Asset values by type and location, £m"]
[]
[null,"Big box warehouses > 35,000 sq m",null,194,0,581,238,659,102,198,0,250,0,2222]
[null,"Big box warehouses < 35,000 sq m",null,0,0,648,553,341,112,242,86,631,70,2683]
[null,"Urban warehouses > 3,500 sq m",null,3821,1257,0,783,95,82,185,4,642,94,6963]
[null,"Urban warehouses < 3,500 sq m",null,2923,1065,0,149,0,5,2,0,9,0,4153]
[null,"Other uses of industrial land1",null,67,556,18,28,22,20,4,0,0,3,718]
[null,"COMPLETED SEGRO PROPERTIES (SEGRO SHARE)",null,7005,2878,1247,1751,1117,321,631,90,1532,167,16739]
[null,"COMPLETED PROPERTIES (AUM)",null,7005,2878,1247,2275,1675,482,1111,180,2311,325,19489]
[]
[null,1,"Includes offices and retail uses such as trade counters, car showrooms and self storage facilities."]

{"sheet":"Top 10 Estates","index":6,"n_rows":29,"n_cols":10,"rows_kept":29,"cut":false,"hidden":false,"merged":[]}
[null,"TOP 10 ASSETS"]
[]
[]
[null,"TOP 10 ESTATES\n(BY VALUE, SEGRO SHARE)","Ownership %","Location","Lettable\narea (100%)\nsq m","Headline rent\n£m","Vacancy by\nERV\n%","WAULT,\nyears1",null,"Asset type"]
[null,"UK"]
[null,"Slough Trading Estate","100","Slough",640705.51365406637,101.33783228520004,4.1058107678426481,8.4490301074332841,null,"Multi-let urban warehouse estate"]
[null,"SLP East Midlands Gateway ","100","Midlands",333159.91000000003,23.912095999999998,0,14.772456354478905,null,"Big box warehouse park"]
[null,"Premier Park","100","Park Royal",78719.75,13.6601641304,0,4.1838517704343072,null,"Multi-let urban warehouse estate"]
[null,"Shoreham Rd Cargo Area","100","Heathrow",93703.790000000008,21.009468999999999,6.8425149707081898E-2,1.9577016779942649,null,"Multi-let cargo facility"]
[null,"Greenford Park ","100","Park Royal",79502.650000000023,11.215269579999999,2.692509956613494,3.9948026258922948,null,"Multi-let urban warehouse estate"]
[null,"Metropolitan Park","100","Park Royal",69987.650000000009,8.3792417999999991,1.7614944390587226,1.4208982044109535,null,"Multi-let urban warehouse estate"]
[null,"North Feltham Trading Estate","100","Heathrow",57933.280000000021,8.9362354996000004,4.3910069026757457,4.8647021608775525,null,"Multi-let urban warehouse estate"]
[null,"SEGRO Park Perivale","100","Park Royal",56906.149999999994,7.6622699995999994,5.2891134386465373,2.2472084225544493,null,"Multi-let urban warehouse estate"]
[null,"Axis Park","100","Heathrow",61753.37,9.1731689996000014,0,6.6675067577338201,null,"Multi-let urban warehouse estate"]
[null,"Park Royal Origin","100","Park Royal",33964.659999999996,5.8816860004000002,0,13.48817563691768,null,"Multi-let urban warehouse estate"]
[]
[null,"CONTINENTAL EUROPE"]
[null,"SEGRO Parc des Petits Carreaux",100,"France",149396,12.027580731092446,10.466485674562028,2.6409397899534106,null,"Multi-let urban warehouse estate"]
[null,"CSG Logistics Park","50 / 100","Italy",349488,8.4429438991596637,0,7.405622592512751,null,"Big box warehouse park"]
[null,"SEGRO Airport Park Berlin","50 / 100","Germany",136120.84999999998,6.3121434285714297,9.0098506500488362,5.8825762485836259,null,"Multi-let urban warehouse and Big box estate"]
[null,"Novara Logistics Park","100","Italy",189028,5.7593277310924371,0,14.580821917808219,null,"Big box warehouse park"]
[null,"SEGRO Logistics Park Krefeld-Süd","50","Germany",235977.46,5.846575075630251,0,3.6259360719704152,null,"Big box warehouse park"]
[null,"SEGRO Logistics Park Aulnay","100","France",47288,4.4019357983193279,0,7.7561660764656599,null,"Big box warehouse park"]
[null,"SEGRO Park Düsseldorf-Süd","100","Germany",96236.91,6.3818871932773105,2.7103714509600039,5.4921107380238405,null,"Multi-let urban warehouse estate"]
[null,"SEGRO CityPark Düsseldorf","100","Germany",50457,4.608585176470589,1.1442809627765793,5.4457620209971385,null,"Multi-let urban warehouse estate"]
[null,"Rome South Logistics Park","50","Italy",223241.43,4.5018275966386554,0,16.415818507924136,null,"Big box warehouse park"]
[null,"SEGRO Park Gennevilliers","100","France",75232,5.3053030588235295,0,4.5869813395288226,null,"Multi-let urban warehouse estate"]
[]
[null,"1Weighted average unexpired lease term to earlier of break or expiry."]

{"sheet":"Asset Type","index":7,"n_rows":34,"n_cols":12,"rows_kept":34,"cut":false,"hidden":false,"merged":[[2,12,3,12],[2,13,3,13],[2,3,3,3],[2,4,3,4],[2,5,2,8],[2,9,3,9],[2,10,2,11]]}
[null,"ANALYSIS OF PORTFOLIO BY ASSET TYPE AS AT 31 DECEMBER 2021"]
[]
[null,null,null,"Lettable area\n(100%) sq m","Lettable area\n(share) sq m","Valuation (SEGRO share)",null,null,null,"Assets under\nmanagement4\n£m","Valuation Movement1"]
[{"$nulls":5},"Investment & \ntrading properties\n£m","Joint\nventures\n£m","Land &\ndevelopment2\n£m","Total\n£m",null,"Held throughout\n%","Completed properties\n%"]
[]
[]
[]
[null,"UK"]
[null,"Big box warehouses > 35,000 sq m",null,362380,362380,775,0,null,775,775,25.335892514395393,30.691399662731872]
[null,"Big box warehouses < 35,000 sq m",null,299635,299635,648,0,null,648,648,30.690537084398979,34.719334719334718]
[null,"Urban warehouses > 3,500 sq m",null,1092179,1092179,5078,0,null,5078,5078,32.390215148835836,30.305363099820376]
[null,"Urban warehouses < 3,500 sq m",null,665439,665439,3988,0,null,3988,3988,40.859030837004404,40.918727915194346]
[null,"High value and other uses of industrial land3",null,154018,154018,641,0,null,641,641,15.873015873015872,1.4240506329113924]
[null,null,null,2573651,2573651,11130,0,1021,12151,12158,34.5,31.9815012451085]
[null,"CONTINENTAL EUROPE"]
[null,"Big box warehouses > 35,000 sq m",null,2595275,1460714,345,1102,null,1447,2549,18.002322880371661,21.903959561920807]
[null,"Big box warehouses < 35,000 sq m",null,3041701,1673960,532,1503,null,2035,3538,18.455497382198953,21.420047732696897]
[null,"Urban warehouses > 3,500 sq m",null,1233827,1112286,1744,141,null,1885,2026,19.891640866873065,24.751819986763731]
[null,"Urban warehouses < 3,500 sq m",null,85618,85618,165,0,null,165,165,25.438596491228072,28.90625]
[null,"High value and other uses of industrial land3",null,41647,40958,74,3,null,77,80,-5,5.4794520547945202]
[null,null,null,6998068,4373536,2860,2749,617,6226,9128,18.677042801556421,22.6]
[null,"GROUP"]
[null,"Big box warehouses > 35,000 sq m",null,2957655,1823094,1120,1102,null,2222,3324,20.767004341534008,24.831460674157306]
[null,"Big box warehouses < 35,000 sq m",null,3341336,1973595,1180,1503,null,2683,4186,20.948410630536738,24.385720908669448]
[null,"Urban warehouses > 3,500 sq m",null,2326006,2204465,6822,141,null,6963,7104,28.94343649946638,28.753698224852069]
[null,"Urban warehouses < 3,500 sq m",null,751057,751057,4153,0,null,4153,4153,40.239605355884429,40.398918187964838]
[null,"High value and other uses of industrial land3",null,195665,194976,715,3,null,718,721,10.843373493975903,1.8439716312056738]
[null,null,null,9571719,6947187,13990,2749,1638,18377,21286,29.025557662783346,28.682349323493234]
[]
[]
[null,1,"The valuation movement percentage is based on the difference between the opening and closing valuations for SEGRO’s share of properties, allowing for capital expenditure, acquisitions and disposals."]
[null,2,"Land and development valuations (including joint ventures at share) by asset type are not available as land sites are not categorised by asset type."]
[null,3,"\"Other uses” include offices and retail uses such as trade counters, car showrooms and self storage facilities."]
[null,4,"AUM totals include land & developments at 100%"]

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[null,"ANALYSIS OF PORTFOLIO BY ASSET TYPE AS AT 31 DECEMBER 2021"]
[]
[null,null,null,"Lettable area\n(100%) sq m","Lettable area\n(share) sq m","Passing\nrent1\n£m","Headline\nrent1\n£m","Headline\nrent1\n£ per sq m","ERV2\n£m","Vacancy\nby ERV4\n%","Net\ninitial yield\n%","Topped-up net\ninitial yield5\n%","Net true\nequivalent\nyield\n%"]
[]
[]
[]
[]
[null,"UK"]
[null,"Big box warehouses > 35,000 sq m",null,362380,362380,22,27,74,29,0,3.3141999999999996,3.8881216707021791,3.5922999999999998]
[null,"Big box warehouses < 35,000 sq m",null,299635,299635,20,24,80,28,0,3.129,3.7750878612716763,3.9929000000000001]
[null,"Urban warehouses > 3,500 sq m",null,1092179,1092179,140,154,144,198,0.3927396817959754,2.7321,2.9979687419221546,3.6297000000000001]
[null,"Urban warehouses < 3,500 sq m",null,665439,665439,97,106,173,151,5.8964884633599457,2.3433999999999999,2.5388131972112671,3.4992000000000001]
[null,"Other uses of industrial land3",null,154018,154018,32,33,233,38,7.4623711412453844,4.8010000000000002,4.913094241982507,6.1856]
[null,null,null,2573651,2573651,311,344,138,444,2.8261944649684816,2.7758000000000003,3.0518959545713082,3.6812999999999998]
[null,"CONTINENTAL EUROPE"]
[null,"Big box warehouses > 35,000 sq m",null,2595275,1460714,55,59,41,61,1.3156865800492323,3.5171000000000001,3.7872293314808001,3.8723000000000001]
[null,"Big box warehouses < 35,000 sq m",null,3041701,1673960,73,84,51,89,2.0834375864265642,3.2946000000000004,3.8237850265695936,3.9251]
[null,"Urban warehouses > 3,500 sq m",null,1233827,1112286,67,79,75,85,7.2843430970147089,3.2252999999999998,3.8246244323533256,4.1411000000000007]
[null,"Urban warehouses < 3,500 sq m",null,85618,85618,7,8,101,9,8.775281109724812,3.7902999999999998,4.2091678998582198,4.6107000000000005]
[null,"Other uses of industrial land3",null,41647,40958,5,5,130,5,3.4325672945548376,4.9073000000000002,4.951593122938065,4.7349000000000006]
[null,null,null,6998068,4373536,207,235,55,249,3.9441580229177147,3.3659000000000003,3.8453008771923778,4.0167999999999999]
[null,"GROUP"]
[null,"Big box warehouses > 35,000 sq m",null,2957655,1823094,77,86,48,90,0.89128625971185371,3.4463315481548156,3.8229656403130723,3.7746402340234022]
[null,"Big box warehouses < 35,000 sq m",null,3341336,1973595,93,108,56,117,1.5886248475127707,3.2546041744316065,3.8118479247679082,3.941475102497205]
[null,"Urban warehouses > 3,500 sq m",null,2326006,2204465,207,233,110,283,2.4707662334378608,2.8656174493752693,3.2187157658001375,3.7681444923165301]
[null,"Urban warehouses < 3,500 sq m",null,751057,751057,104,114,164,160,6.0536019382658228,2.4008857934023595,2.6079727978609162,3.5433602456055859]
[null,"Other uses of industrial land3",null,195665,194976,37,38,210,43,6.9708653685526452,4.8123998607242333,4.9171599647431332,6.0300235376044569]
[null,null,null,9571719,6947187,518,579,86,693,3.2278677596511498,2.9735340880578289,3.3144137301733814,3.7937212617241172]
[]
[null,1,"In respect of occupied space only; SEGRO share."]
[null,2,"On a fully occupied basis; SEGRO share."]
[null,3,"\"Other uses” include offices and retail uses such as trade counters, car showrooms and self storage facilities."]
[null,4,"Vacancy rate excluding short term lettings for the Group at 31 December 2021 is 3.7%."]
[null,5,"In relation to SEGRO’s share of completed properties."]

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[null,"ANALYSIS OF PORTFOLIO BY ASSET TYPE AS AT 31 DECEMBER 2021"]
[]
[null,null,null,"Lettable area\n(100%) sq m","Lettable area\n(share) sq m","Valuation (SEGRO share)",null,null,null,"Assets under\nmanagement\n£m","Valuation Movement1"]
[{"$nulls":5},"Investment & \ntrading properties\n£m","Joint\nventures\n£m","Land &\ndevelopment3\n£m","Total\n£m",null,"Held throughout\n%","Completed properties\n%"]
[]
[]
[]
[null,"BY OWNERSHIP"]
[null,"Wholly owned",null,4322654,4322654,13990,0,1478,15468,15468,31.551397705757878,30.626803238125472]
[null,"Joint ventures",null,5249065,2624533,0,2749,160,2909,5818,18.194842406876791,19.620556111570426]
[null,"GROUP TOTAL",null,9571719,6947187,13990,2749,1638,18377,21286,29.025557662783346,28.682349323493234]
[null,null,null,"Passing\nrent5\n£m","Headline\nrent5\n£m","Headline\nrent5\n£ per sq m","ERV6\n£m","Vacancy\nby ERV4\n%","Net\ninitial yield\n%","Topped-up net\ninitial yield2\n%","Net true\nequivalent\nyield\n%"]
[]
[]
[null,"BY OWNERSHIP"]
[null,"Wholly owned",null,414,463,111,574,3.5191639551779339,2.8802441744102936,3.2033404480666947,3.7566000000000002]
[null,"Joint ventures",null,104,116,45,119,1.83385389286518,3.4481999999999999,3.8814329313349076,3.9836000000000005]
[null,"GROUP TOTAL",null,518,579,86,693,3.2278677596511507,2.9735340880578289,3.3133653628724038,3.7937212617241172]
[]
[]
[]
[]
[null,1,"The valuation movement percentage is based on the difference between the opening and closing valuations for SEGRO’s share of properties, allowing for capital expenditure, acquisitions and disposals."]
[null,2,"In relation to SEGRO’s share of completed properties."]
[null,3,"Land and development valuations (including joint ventures at share) by asset type are not available as land sites are not categorised by asset type."]
[null,4,"Vacancy rate excluding short term lettings for the Group at 31 December 2021 is 3.7%."]
[null,5,"In respect of occupied space only; SEGRO share."]
[null,6,"On a fully occupied basis; SEGRO share."]

{"sheet":"Geography","index":10,"n_rows":31,"n_cols":12,"rows_kept":31,"cut":false,"hidden":false,"merged":[[25,12,26,12],[25,13,26,13],[27,12,28,12],[27,13,28,13],[18,12,19,12],[18,13,19,13],[20,12,22,12],[20,13,22,13],[23,12,24,12],[23,13,24,13],[12,12,13,12],[12,13,13,13],[14,12,15,12],[14,13,15,13],[16,12,17,12],[16,13,17,13],[3,3,4,3],[3,4,4,4],[3,5,3,8],[3,9,4,9],[3,12,4,12],[3,10,3,11],[10,13,11,13],[10,12,11,12],[8,13,9,13],[8,12,9,12],[3,13,4,13],[5,12,6,12],[5,13,6,13]]}
[null,"ANALYSIS OF PORTFOLIO BY GEOGRAPHY AS AT 31 DECEMBER 2021"]
[]
[]
[null,null,null,"Lettable area\n(100%) sq m","Lettable area\n(share) sq m","Valuation (SEGRO share)",null,null,null,"Assets under\nmanagement\n£m","Valuation Movement1"]
[{"$nulls":5},"Investment & \ntrading properties\n£m","Joint\nventures\n£m","Land &\ndevelopment\n£m","Total\n£m",null,"Held throughout\n%","Completed properties\n%"]
[]
[]
[]
[null,"London Airports (primarily Heathrow)",null,484353,484353,2303,0,116,2419,2419,24.621212121212121,24.688684353004874]
[null,"Park Royal",null,486621,486621,3043,0,36,3079,3086,46.14181438998957,46.157540826128724]
[null,"Rest of Greater London",null,322477,322477,1659,0,175,1834,1834,49.585798816568051,34.006462035541198]
[null,"GREATER LONDON",null,1293451,1293451,7005,0,327,7332,7339,38.147907178486228,35.571898587187924]
[null,"Slough Trading Estate",null,640706,640706,2806,0,205,3011,3011,28.202247191011239,23.286467486818982]
[null,"Rest of South-East England",null,20405,20405,72,0,19,91,91,33.333333333333329,33.333333333333329]
[null,"THAMES VALLEY",null,661111,661111,2878,0,224,3102,3102,28.353326063249728,23.519313304721027]
[null,"NATIONAL LOGISTICS",null,619089,619089,1247,0,470,1717,1717,27.813712807244499,33.226495726495727]
[null,"UK TOTAL",null,2573651,2573651,11130,0,1021,12151,12158,34.5,31.9815012451085]
[null,"Germany",null,1615149,1002510,754,778,197,1729,2548,15.767634854771783,19.036519036519035]
[null,"Netherlands",null,233185,120298,9,158,27,194,368,21.374045801526716,20.14388489208633]
[null,"NORTHERN EUROPE",null,1848334,1122808,763,936,224,1923,2916,16.317365269461078,19.144460028050492]
[null,"France",null,1513337,1078186,1227,524,112,1863,2394,18.869365928189456,20.925414364640886]
[null,"Italy",null,1600875,1025273,559,558,138,1255,1813,28.947368421052634,33.612440191387563]
[null,"Spain",null,355754,230968,160,161,64,385,583,23.913043478260871,33.75]
[null,"SOUTHERN EUROPE",null,3469966,2334427,1946,1243,314,3503,4790,21.559392987964415,26.347068145800318]
[null,"Poland",null,1510254,831543,151,480,75,706,1234,13.857677902621724,14.519056261343014]
[null,"Czech Republic",null,169514,84758,0,90,4,94,188,21.621621621621621,21.621621621621621]
[null,"CENTRAL EUROPE",null,1679768,916301,151,570,79,800,1422,14.802631578947366,15.36]
[null,"CONTINENTAL EUROPE TOTAL",null,6998068,4373536,2860,2749,617,6226,9128,18.677042801556421,22.6]
[null,"COMPLETED PORTFOLIO",null,9571719,6947187,13990,2749,1638,18377,21286,29.025557662783346,28.682349323493234]
[]
[null,1,"The valuation movement percentage is based on the difference between the opening and closing valuations for SEGRO’s share of properties, allowing for capital expenditure, acquisitions and disposals."]

{"sheet":"Geography 2","index":11,"n_rows":34,"n_cols":13,"rows_kept":34,"cut":false,"hidden":false,"merged":[[3,10,4,10],[3,11,4,11],[3,12,4,12],[3,3,4,3],[3,4,4,4],[3,9,4,9],[3,5,4,5],[3,6,4,6],[3,7,4,7],[3,8,4,8]]}
[null,"ANALYSIS OF PORTFOLIO BY GEOGRAPHY AS AT 31 DECEMBER 2021"]
[]
[]
[null,null,null,"Lettable area\n(100%) sq m","Lettable area\n(share) sq m","Passing\nrent1\n£m","Headline\nrent1\n£m","Headline\nrent1\n£ per sq m","ERV2\n£m","Vacancy\nby ERV3\n%","Net\ninitial yield4\n%","Topped-up net\ninitial yield4\n%","Net true\nequivalent\nyield4\n%"]
[]
[]
[]
[]
[null,"London Airports (primarily Heathrow)",null,484353,484353,79,84,179,100,1.8375905080542605,3.3060999999999998,3.5148498994955251,4.0766]
[null,"Park Royal",null,486621,486621,60,69,146,102,3.5613567100248886,2.0415999999999999,2.2780204603200001,3.2256]
[null,"Rest of Greater London",null,322477,322477,37,42,134,63,3.0570321976039403,1.9147000000000001,2.2159973297571995,3.1643999999999997]
[null,"GREATER LONDON",null,1293451,1293451,176,195,155,265,2.7918250598580605,2.4271000000000003,2.6698220109640323,3.4848999999999997]
[null,"Slough Trading Estate",null,640706,640706,96,101,169,126,4.1058107678426481,3.4055,3.5841390927551702,4.1364000000000001]
[null,"Rest of South-East England",null,20405,20405,3,3,136,3,0,3.6108000000000002,3.6108000000000002,4.0808]
[null,"THAMES VALLEY",null,661111,661111,99,104,138,129,4.0072577604718287,3.4106999999999998,3.5848066992130083,4.1349]
[null,"NATIONAL LOGISTICS",null,619089,619089,36,45,73,50,0,3.2682999999999995,3.9603752066115701,3.8488000000000002]
[null,"UK TOTAL",null,2573651,2573651,311,344,138,444,2.8261944649684811,2.7758000000000003,3.0518959545713082,3.6812999999999998]
[null,"Germany",null,1615149,1002510,50,58,60,62,4.9648552929095269,2.9038999999999997,3.3952973195379417,3.5516999999999999]
[null,"Netherlands",null,233185,120298,7,7,63,7,0,3.6900000000000004,3.9345712335763041,3.9220999999999999]
[null,"NORTHERN EUROPE",null,1848334,1122808,57,65,60,69,4.4370194088490891,2.9822000000000002,3.4489284065934052,3.5874000000000001]
[null,"France",null,1513337,1078186,59,70,69,79,6.5255254570650507,3.1168,3.7131863147151916,4.1008000000000004]
[null,"Italy",null,1600875,1025273,43,47,46,48,0,3.4491000000000001,3.7626913509348379,3.8094999999999999]
[null,"Spain",null,355754,230968,14,15,64,15,0,3.7330000000000001,3.9507261466032202,3.9260000000000002]
[null,"SOUTHERN EUROPE",null,3469966,2334427,116,132,58,142,3.6415821679257769,3.2938000000000001,3.7552327003908164,3.9822000000000002]
[null,"Poland",null,1510254,831543,32,34,43,34,4.3423122678271211,4.9244000000000003,5.3368197092614844,5.2035999999999998]
[null,"Czech Republic",null,169514,84758,2,4,48,4,2.874088056589871,2.7026000000000003,4.3932581628959273,4.7854000000000001]
[null,"CENTRAL EUROPE",null,1679768,916301,34,38,43,38,4.1699274210991435,4.6476000000000006,5.219519025218772,5.1509]
[null,"CONTINENTAL EUROPE TOTAL",null,6998068,4373536,207,235,55,249,3.944158022917716,3.3659000000000003,3.8453008771923778,4.0167999999999999]
[null,"COMPLETED PORTFOLIO",null,9571719,6947187,518,579,86,693,3.2278677596511498,2.9735340880578289,3.3144137301733814,3.7937212617241172]
[]
[null,1,"In respect of occupied space only; SEGRO share."]
[null,2,"On a fully occupied basis; SEGRO share."]
[null,3,"Vacancy rate excluding short term lettings for the Group at 31 December 2021 is 3.7%."]
[null,4,"In relation to SEGRO’s share of completed properties."]

{"sheet":"Supplementary Data","index":12,"n_rows":44,"n_cols":6,"rows_kept":44,"cut":false,"hidden":false,"merged":[[25,3,26,3],[25,4,26,4],[25,5,26,5]]}
[null,"SUPPLEMENTARY DATA AS AT 31 DECEMBER 2021"]
[]
[null,"LEASING DATA FOR YEAR TO 31 DECEMBER "]
[{"$nulls":4},2021,2020]
[]
[]
[]
[null,"Take-up of existing space2 (A)",null,"£m",26.4,15.6]
[null,"Space returned3 (B)",null,"£m",-20.5,-12.4]
[null,"Net absorption of existing space2 (A-B)",null,"£m",5.8999999999999986,3.1999999999999993]
[null,"Other rental movements (rent reviews, renewals, indexation)2 (C)",null,"£m",8.6,12.9]
[null,"Rent roll growth from existing space",null,"£m",14.499999999999998,16.100000000000001]
[null,"Take-up of pre-let developments completed in the year \u008d-- signed in prior years2 (D)",null,"£m",42.6,32.9]
[null,"Take-up of speculative developments completed in the past two years2 (D)",null,"£m",15.1,10.199999999999999]
[null,"Total take-up2 (A+C+D)",null,"£m",92.699999999999989,71.599999999999994]
[null,"Less take-up of space signed in previous years2",null,"£m",-46.5,-34.799999999999997]
[null,"Pre-lets signed in the year for delivery in later years2",null,"£m",49.1,41.1]
[null,"Rental income contracted in the year2",null,"£m",95.299999999999983,77.900000000000006]
[]
[null,"Take-back of space for re-development",null,"£m",-3,-4]
[null,"Known takeback/letting from acquisition",null,"£m","-",-1.4000000000000001]
[null,"Retention rate4",null,"%",76.749048204704181,86.071522887484235]
[]
[null,"RECONCILIATION BETWEEN PASSING RENT AND ERV"]
[]
[null,null,null,"UK\n£m","Continental\nEurope\n£m","Group\n£m"]
[]
[]
[]
[]
[null,"PASSING RENT PER VALUATION",null,334,206,540]
[null,"Valuation adjustments (incl outstanding rent reviews, rent in arrears)",null,-21,1,-20]
[null,"Less rents from short term lettings",null,-2,0,-2]
[null,"SEGRO PASSING RENT",null,311,207,518]
[null,"Adjustment for notional rent in respect of rent-free periods",null,33,28,61]
[null,"SEGRO CONTRACTED HEADLINE RENT",null,344,235,579]
[null,"ERV of vacant properties (incl short term lettings)",null,15,10,25]
[null,"Reversion to ERV for properties occupied",null,85,4,89]
[null,"ERV OF COMPLETED PORTFOLIO",null,444,249,693]
[]
[null,"1All figures reflect exchange rates at 31 December and include joint ventures at share. "]
[null,"2Headline rent."]
[null,"3Headline rent, excluding space taken back for redevelopment."]
[null,"4Headline rent retained as a percentage of total headline rent at risk from break or expiry during the year."]

{"sheet":"Supplementary Data 2","index":13,"n_rows":31,"n_cols":6,"rows_kept":31,"cut":false,"hidden":false,"merged":[[5,1,6,1],[4,3,5,3],[4,4,5,4],[4,5,5,5],[14,3,15,3],[14,4,15,4],[14,5,15,5]]}
[null,"SUPPLEMENTARY DATA AS AT 31 DECEMBER 2021"]
[]
[]
[null,"PORTFOLIO RENT REVIEW CLAUSE SPLIT"]
[null,null,null,"UK","Continental Europe","Group"]
[null,"Headline Rent"]
[null,null,null,"%","%","%"]
[]
[]
[null,"Market Rent Revew",null,53,0,53]
[null,"Index Linked1",null,2,39,41]
[null,"Fixed Uplifts/Other",null,4,2,6]
[]
[null,"RENT CHANGE ON RENT REVIEW, LEASE RENEWALS AND RE-GEARS DURING THE YEAR"]
[null,null,null,"Headline rent of\nleases subject to\nreview, renewal\nor re-gear\n£m","New\nheadline rent\nagreed\n£m","Change3\n%"]
[]
[]
[]
[null,"Greater London",null,17.7,21.8,22.719284369386223]
[null,"Thames Valley",null,8.1999999999999993,9.3000000000000007,13.337273250352824]
[null,"National Logistics",null,2.7,2.9,8.3635291207067048]
[null,"UK TOTAL",null,28.599999999999998,34,18.689889062651538]
[null,"Northern Europe2",null,3.8,3.9,3.4157335535069722]
[null,"Southern Europe2",null,7,7.1,0.40369952402367359]
[null,"Central Europe2",null,3.2,3.3,1.4183097938846116]
[null,"CONTINENTAL EUROPE TOTAL",null,14,14.3,1.4503990547053587]
[null,"GROUP TOTAL",null,42.599999999999994,48.3,13.019478073818611]
[]
[null,"1Majority linked to CPI."]
[null,"2Continental Europe leases do not have rent review clauses so this data is for lease renewals only."]
[null,"3Percentage change based on actual, rather than rounded numbers."]

{"sheet":"Supplementary Data 3","index":14,"n_rows":41,"n_cols":9,"rows_kept":41,"cut":false,"hidden":false,"merged":[]}
[null,"SUPPLEMENTARY DATA AS AT 31 DECEMBER 2021"]
[]
[]
[]
[null,"LEASE BREAK OPTIONS & EXPIRIES"]
[{"$nulls":4},2022,2023,2024,2025,2026]
[null,"Headline rent (SEGRO share)",null,null,"£m","£m","£m","£m","£m"]
[]
[null,"UK",null,null,23,15,31,16,6]
[null,"Continental Europe",null,null,10,13,13,11,3]
[null,"GROUP TOTAL - LEASE BREAK OPTIONS",null,null,33,28,44,27,9]
[null,"UK",null,null,27,17,29,23,21]
[null,"Continental Europe",null,null,11,14,16,24,21]
[null,"GROUP TOTAL - LEASE EXPIRIES ASSUMING NO BREAKS ARE EXERCISED",null,null,38,31,45,47,42]
[null,"UK",null,null,-2,-4,-12,-3,-6]
[null,"Continental Europe",null,null,-1,-4,-2,-9,-8]
[null,"GROUP TOTAL - DEDUCTION ASSUMING ALL BREAKS ARE EXERCISED",null,null,-3,-8,-14,-12,-14]
[null,"GROUP TOTAL - LEASE EXPIRIES AND POTENTIAL BREAKS",null,null,68,51,75,62,37]
[]
[null,"Estimated Rental Value (ERV; SEGRO share)"]
[]
[null,"UK",null,null,64,37,57,48,26]
[null,"Continental Europe",null,null,21,24,28,27,15]
[null,"GROUP TOTAL - ERV OF LEASES SUBJECT TO BREAK OPTION OR EXPIRY",null,null,85,61,85,75,41]
[]
[null,"RENT SUBJECT TO REVIEW"]
[]
[{"$nulls":4},2022,2023,2024,2025,2026]
[null,"Headline rent",null,null,"£m","£m","£m","£m","£m"]
[]
[null,"Greater London",null,null,39,25,19,24,14]
[null,"Thames Valley",null,null,22,10,20,5,9]
[null,"National Logistics",null,null,13,1,14,2,2]
[null,"UK TOTAL",null,null,74,36,53,31,25]
[]
[null,"Estimated Rental Value (ERV)"]
[]
[null,"Greater London",null,null,55,34,26,28,17]
[null,"Thames Valley",null,null,25,11,25,5,10]
[null,"National Logistics",null,null,16,1,15,3,2]
[null,"UK TOTAL",null,null,96,46,66,36,29]

{"sheet":"Customers","index":15,"n_rows":33,"n_cols":9,"rows_kept":33,"cut":false,"hidden":false,"merged":[]}
[]
[null,"CUSTOMER TYPES AS AT 31 DECEMBER 2021",{"$nulls":4},"TOP 20 CUSTOMERS"]
[]
[null,"Customer type by headline rent",{"$nulls":4},"CUSTOMER (BY HEADLINE RENT)",null,"CUSTOMER TYPE"]
[]
[{"$nulls":6},"Amazon",null,"Retail"]
[{"$nulls":6},"Deutsche Post DHL",null,"Transport & Logistics / Post & Parcel Delivery"]
[{"$nulls":6},"Royal Mail ",null,"Post & Parcel Delivery"]
[{"$nulls":6},"Federal Express",null,"Post & Parcel Delivery"]
[{"$nulls":6},"Virtus",null,"Technology, Media and Telecoms"]
[{"$nulls":6},"GXO",null,"Transport & Logistics"]
[{"$nulls":6},"Worldwide Flight Services",null,"Transport & Logistics"]
[{"$nulls":6},"Geodis",null,"Transport & Logistics"]
[{"$nulls":6},"Equinix",null,"Technology, Media and Telecoms"]
[{"$nulls":6},"La Poste (DPD)",null,"Post & Parcel Delivery"]
[{"$nulls":6},"British Airways",null,"Other"]
[{"$nulls":6},"Telefonica ",null,"Technology, Media and Telecoms"]
[{"$nulls":6},"CyrusOne",null,"Technology, Media and Telecoms"]
[{"$nulls":6},"Ocado ",null,"Retail"]
[{"$nulls":6},"Leroy Merlin",null,"Retail"]
[{"$nulls":6},"Tesco ",null,"Wholesale Distribution"]
[{"$nulls":6},"Netflix",null,"Technology, Media and Telecoms"]
[{"$nulls":6},"Hermes",null,"Post & Parcel Delivery"]
[{"$nulls":6},"Menzies ",null,"Transport & Logistics"]
[{"$nulls":6},"UCB",null,"Other"]
[null,"WEIGHTED AVERAGE LEASE LENGTH1",{"$nulls":4},"The top 20 customers represent headline rent of £188 million in aggregate, 32% of the Group's total headline"]
[null,"By geography",null,"Break\nyears","Expiry\nyears",null,"rent at 31 December 2021 (SEGRO share)."]
[]
[null,"UK",null,8.1518561743035534,9.703653350495836]
[null,"Continental Europe",null,5.925386531740096,6.8474480440153958]
[null,"GROUP TOTAL",null,7.2473739405928059,8.5433469595371321]
[]
[null,"1Weighted by headline rent (including SEGRO share of properties in joint ventures)."]

{"sheet":"Summary Development Pipeline","index":16,"n_rows":34,"n_cols":11,"rows_kept":34,"cut":false,"hidden":false,"merged":[]}
[null,"DEVELOPMENT PIPELINE AS AT 31 DECEMBER 2021"]
[]
[]
[]
[null,null,null,"Hectarage\n(space, 100%)\nha","Space to be built\n(100%)\nsq m","Current book\nvalue1 \n£m","Estimated cost to\ncompletion2 \n£m","ERV when\ncompleted3 \n£m",null,"Pre-let\n(ERV)\n£m","Estimated yield \non cost4\n%"]
[]
[]
[null,"CURRENT DEVELOPMENT PIPELINE (A)"]
[null,"UK",null,32,195184,515,141,32,null,24,8.1040967326201863E-2]
[null,"Continental Europe — wholly-owned",null,54,249424,177,134,18,5,10,6.7458938023011381E-2]
[null,"Continental Europe — joint ventures",null,41,271646,79,35,6,null,3,6.3193755203279703E-2]
[null,null,null,127,716254,771,310,56,null,37,7.4134519302652066E-2]
[null,"Forward funded projects",null,24,85106,69,70,6,null,0,4.7961175491712783E-2]
[null,null,null,151,801360,840,380,62,null,37,7.0187534595881076E-2]
[]
[null,"FUTURE DEVELOPMENT PIPELINE (B)"]
[null,"UK",null,264,1212306,462,1091,95,null,0,6.1155924974774449E-2]
[null,"Continental Europe — wholly-owned",null,210,876070,254,567,52,5,0,6.376436904371563E-2]
[null,"Continental Europe — joint ventures",null,210,1017894,67,245,22,null,0,7.0958815252138235E-2]
[null,null,null,684,3106270,783,1903,169,null,0,6.3092160838455605E-2]
[]
[null,"TOTAL DEVELOPMENT PIPELINE (A+B)",null,835,3907630,1623,2283,231,null,37]
[null,"Land subject to sale on turnkey developments",null,0,null,0]
[null,"Other land",null,20,0,15]
[null,"TOTAL DEVELOPMENT PIPELINE AND OTHER LAND",null,855,null,1638]
[]
[null,1,"Includes current value of land plus all costs incurred to date."]
[null,2,"Estimated costs to completion include estimated finance charges during construction which are capitalised to the end of the construction period."]
[null,3,"ERV based upon market rents as at 31 December 2021."]
[null,4,"Yield on cost is the expected gross yield based on the estimated current market rental value (ERV) of the developments when fully let, divided by the cost of the developments taking land at value at"]
[null,null,"commencement of the developments plus total development costs to completion."]
[null,5,"Approximately £8 million in the current pipeline and £25 million in the future pipeline is associated with big box warehouses built by SEGRO/Vailog for which SELP has the option, but not the obligation, "]
[null,null,"to acquire shortly after completion. Any acquisition is carried out based on the most recent valuation and the effective impact on SEGRO would be receipt of 50 per cent of the proceeds and a loss of"]
[null,null,"50 per cent of the rent."]

{"sheet":"Current Development Projects","index":17,"n_rows":38,"n_cols":10,"rows_kept":38,"cut":false,"hidden":false,"merged":[]}
[null,"CURRENT DEVELOPMENT PROJECTS"]
[]
[null,null,"Space to be built \n(100%) \nsq m",null,null,"Period of completion","Estimated costs\nto completion\n£m",null,null,"Period of completion"]
[null,null,"Total","2022 H1","2022 H2","2023 H1","Total","2022 H1","2022 H2","2023 H1"]
[]
[]
[null,"UK — Big Box",70203,10745,59458,0,37,5,32,0]
[null,"UK — Urban warehousing",124981,67518,20057,37406,104,28,36,40]
[null,"UK TOTAL",195184,78263,79515,37406,141,33,68,40]
[null,"Continental Europe – Big Box",410653,207986,127456,75211,108,23,38,47]
[null,"  Continental Europe – Big Box wholly-owned1",139007,37258,26538,75211,73,7,19,47]
[null,"  Continental Europe – Big Box joint ventures",271646,170728,100918,0,35,16,19,0]
[null,"Continental Europe – Urban warehousing wholly-owned",104396,43115,44577,16704,49,13,23,13]
[null,"Continental Europe – High value and other uses of industrial land",6021,0,6021,0,12,0,12,0]
[null,"CONTINENTAL EUROPE TOTAL",521070,251101,178054,91915,169,36,73,60]
[null,"CURRENT DEVELOPMENT PIPELINE",716254,329364,257569,129321,310,69,141,100]
[]
[]
[]
[null,null,"ERV\nwhen complete\n£m",null,null,"Period of completion","Pre-let\n(ERV)\n£m",null,null,"Period of completion"]
[null,null,"Total","2022 H1","2022 H2","2023 H1","Total","2022 H1","2022 H2","2023 H1"]
[]
[]
[null,"UK — Big Box",6,1,5,0,5,1,4,0]
[null,"UK — Urban warehousing",26,12,6,8,19,6,6,7]
[null,"  UK – Urban Warehousing wholly-owned",25,12,6,7,19,6,6,7]
[null,"  UK – Urban Warehousing joint ventures",1,0,0,1,0,0,0,0]
[null,"UK TOTAL",32,13,11,8,24,7,10,7]
[null,"Continental Europe – Big Box",14,6,4,4,8,3,3,2]
[null,"  Continental Europe – Big Box wholly-owned1",8,2,2,4,5,1,2,2]
[null,"  Continental Europe – Big Box joint ventures",6,4,2,0,3,2,1,0]
[null,"Continental Europe – Urban warehousing wholly-owned",9,4,4,1,4,2,2,0]
[null,"Continental Europe – High value and other uses of industrial land",1,0,1,0,1,0,1,0]
[null,"CONTINENTAL EUROPE TOTAL",24,10,9,5,13,5,6,2]
[null,"CURRENT DEVELOPMENT PIPELINE",56,23,20,13,37,12,16,9]
[]
[]
[null,"1These developments are built by SEGRO/Vailog for which SELP has the option, but not the obligation, to acquire shortly after completion. "]

{"sheet":"Completed Projects","index":18,"n_rows":19,"n_cols":8,"rows_kept":19,"cut":false,"hidden":false,"merged":[]}
[null,"DEVELOPMENT PROJECTS COMPLETED IN 2021"]
[]
[]
[]
[null,null,null,"Completed \n(space, 100%)\nsq m","Total ERV \n(at share) \n£m","ERV of let space \n(at share) \n£m","Total capital expenditure \n(at share) £m","Yield \non cost"]
[]
[]
[]
[null,"UK — Big Box",null,117076,11,11,88,6.7616207322089672E-2]
[null,"UK — Urban warehousing",null,37342,7,7,37,9.1056159001617759E-2]
[null,"UK — High value and other uses of industrial land",null,0,0,0,4,6.1170212765957445E-2]
[null,"UK TOTAL",null,154418,18,18,129,7.5209712093748701E-2]
[null,"Continental Europe — Big Box",null,560756,20,21,272,6.107567182621005E-2]
[null,null,"Wholly-owned",359600,15,15,220,5.8965457110698935E-2]
[null,null,"Joint Ventures",201156,5,5,52,6.8826808040379675E-2]
[null,"Continental Europe - Urban warehousing",null,124051,12,8,124,6.9417525503393071E-2]
[null,"Continental Europe - High value and other uses of industrial land",null,0,2,2,9,8.299110198494182E-2]
[null,"CONTINENTAL EUROPE TOTAL",null,684807,34,32,405,6.4634387739605684E-2]
[null,"TOTAL COMPLETED PROJECTS IN 2021",null,839225,52,48,534,6.7894356037666928E-2]

{"sheet":"Glossary","index":19,"n_rows":20,"n_cols":20,"rows_kept":20,"cut":false,"hidden":false,"merged":[[16,1,16,8],[16,10,16,17],[16,19,16,26],[19,1,19,8],[19,10,19,17],[19,19,19,26],[10,1,10,8],[10,10,10,17],[10,19,10,26],[13,1,13,8],[13,10,13,17],[13,19,13,26],[4,1,4,8],[4,10,4,17],[4,19,4,26],[7,1,7,8],[7,10,7,17],[7,19,7,26]]}
[null,"GLOSSARY OF TERMS"]
[]
[]
[null,"Completed portfolio",{"$nulls":8},"Headline rent",{"$nulls":8},"Net rental income"]
[null,"The completed investment properties and the Group’s share of joint ventures’ completed investment properties. Includes properties held throughout the year, completed developments and properties acquired during the year.",{"$nulls":8},"The annual rental income currently receivable on a property as at the balance sheet date (which may be more or less than the ERV) ignoring any rent-free period.",{"$nulls":8},"Gross Rental Income less ground rents paid, net service charge expenses and property operating expenses."]
[]
[null,"Development pipeline",{"$nulls":8},"Hectares (Ha)",{"$nulls":8},"Net true equivalent yield"]
[null,"The Group’s current programme of developments authorised or in the course of construction at the balance sheet date (Current Pipeline), together with potential schemes not yet commenced on land owned or controlled by the Group (Future Pipeline).",{"$nulls":8},"The area of land measurement used in this analysis. The conversion factor used, where appropriate, is 1 hectare = 2.471 acres.",{"$nulls":8},"The internal rate of return from an investment property, based on the value of the property assuming the current passing rent reverts to ERV and assuming the property becomes fully occupied over time. Rent is assumed to be paid quarterly in advance, in line with standard UK lease terms."]
[]
[null,"EPRA",{"$nulls":8},"Investment property",{"$nulls":8},"Passing rent"]
[null,"The European Public Real Estate Association, a real estate industry body, which has issued Best Practices Recommendations in order to provide consistency and transparency in real estate reporting across Europe.",{"$nulls":8},"Completed land and buildings held for rental income return and/or capital appreciation.",{"$nulls":8},"The annual rental income currently receivable on a property as at the balance sheet date (which may be more or less than the ERV). Excludes rental income where a rent free period is in operation. Excludes service charge income."]
[]
[null,"Estimated cost to completion",{"$nulls":8},"Joint venture",{"$nulls":8},"Pre-let"]
[null,"Costs still to be expended on a development or redevelopment to practical completion, including notional finance costs.",{"$nulls":8},"An entity in which the Group holds an interest and which is jointly controlled by the Group and one or more partners under a contractual arrangement whereby decisions on financial and operating policies essential to the operation, performance and financial position of the venture require each partner’s consent.",{"$nulls":8},"A lease signed with an occupier prior to commencing construction of a building. "]
[]
[null,"Estimated rental value (ERV)",{"$nulls":8},"Net initial yield",{"$nulls":8},"REIT"]
[null,"The estimated annual market rental value of lettable space as determined biannually by the Group’s valuers. This will normally be different from the rent being paid.",{"$nulls":8},"Passing rent less non–recoverable property expenses such as empty rates, divided by the property valuation plus notional purchasers’ costs. This is in accordance with EPRA’s Best Practices Recommendations. ",{"$nulls":8},"A qualifying entity which has elected to be treated as a Real Estate Investment Trust for tax purposes. In the UK, such entities must be listed on a recognised stock exchange, must be predominantly engaged in property investment activities and must meet certain ongoing qualifications. SEGRO plc and its UK subsidiaries achieved REIT status with effect from 1 January 2007."]
[]
[null,"Rent-free period",{"$nulls":8},"Square metres (sq m)",{"$nulls":8},"Total capital expenditure"]
[null,"An incentive provided usually at commencement of a lease during which a customer pays no rent. The amount of rent free is the difference between passing rent and headline rent.",{"$nulls":8},"The area of buildings measurements used in this analysis. The conversion factor used, where appropriate, is 1 square metre = 10.7639 square feet.",{"$nulls":8},"Total capital expenditure excluding land value."]

{"sheet":"Glossary 2","index":20,"n_rows":11,"n_cols":20,"rows_kept":11,"cut":false,"hidden":false,"merged":[[6,1,6,8],[6,10,6,17],[6,19,6,26],[9,1,9,8],[10,1,10,8],[10,10,10,17],[10,19,10,26]]}
[null,"GLOSSARY OF TERMS"]
[]
[]
[]
[]
[null,"Rent roll",{"$nulls":8},"Take-back",{"$nulls":8},"Trading property"]
[null,"See Passing Rent.",{"$nulls":8},"Rental income lost due to lease expiry, exercise of break option, surrender or insolvency.",{"$nulls":8},"Property being developed for sale or one which is being held for sale after development is complete."]
[]
[]
[null,"Speculative development",{"$nulls":8},"Topped up net initial yield",{"$nulls":8},"Yield on cost"]
[null,"Where a development has commenced prior to a lease agreement being signed in relation to that development.",{"$nulls":8},"Net initial yield adjusted to include notional rent in respect of let properties which are subject to a rent free period at the valuation date. This is in accordance with EPRA’s Best Practices Recommendations. ",{"$nulls":8},"Yield on cost is the expected gross yield based on the estimated current market rental value (ERV) of the developments when fully let, divided by the book value of the developments at the earlier of commencement of the development or the balance sheet date plus future development costs and estimated finance costs to completion. "]

{"sheet":"Back Page","index":21,"n_rows":11,"n_cols":5,"rows_kept":11,"cut":false,"hidden":false,"merged":[[6,1,6,8],[6,10,6,17],[6,19,6,26]]}
{"$rows_empty":7}
[null,"SEGRO plc"]
[null,"1 New Burlington Place",null,null,"T  +44 (0) 20 7451 9100"]
[null,"London",null,null,"F  +44 (0) 20 7451 9150"]
[null,"W1S 2HR",null,null,"SEGRO.com/investors"]