SEGRO agrees to sell 158,000 sq m warehouse in Rome
SEGRO plc (“SEGRO”) has exchanged contracts to sell a 158,000 sq m warehouse in Rome for €118 million. The transaction is expected to complete by the end of October 2018.
The warehouse was developed by SEGRO-Vailog in 2017 for a global online retail company on a 15 year lease. It is located in Passo Corese, approximately 35 km north east of Rome, and was designed to cater for the occupier’s specific requirements, with three mezzanine levels on a footprint of 60,518 sq m.
Phil Redding, Chief Investment Officer of SEGRO, said
“Having developed and delivered this state-of-the-art facility for one of our key customers, the largest SEGRO has ever developed, we have taken the opportunity to sell the asset to capitalise on very strong demand from a wide range of international investors.”
Notes to Editors:
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 6.9 million square metres (74 million square feet) of space valued at over £10 billion, serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in nine other European countries.
See www.SEGRO.com for further information.