This site uses cookies to improve your experience.

We use cookies to offer you better browsing experience. Cookies enhance site navigation, analyze site usage, and assist in our marketing efforts.To understand more about how we use cookies or to change your cookie preferences, visit our privacy and cookies page or click on ‘Show settings’. By clicking ‘Accept all Cookies,’ you agree to the storing of cookies on your device.

Privacy Policy Centre

When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalized web experience.

Because we respect your right to privacy, below you will find descriptions on the types of cookies used on this site and options to opt out where preferred. Please note blocking some types of cookies may impact your experience of the site and the services we are able to offer.

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms.

You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.

These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site.
All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.

These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site.
All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.

Privacy and cookies

SELP has received net proceeds of €83.4 million (SEGRO owns 50 per cent of SELP: its share of the proceeds is €41.7 million), equating to a net initial yield to SEGRO on the land and assets of 4.7 per cent (topped-up net initial yield of 5.6 per cent including a one year rent guarantee on the unoccupied space).

The warehouses total 92,500 sq m of space, of which 82 per cent is occupied (by ERV), with a weighted average unexpired lease length of 6.5 years to break and 7.1 years to expiry as at 30 September 2018.

This disposal successfully concludes SEGRO and SELP’s presence in Belgium, at a modest premium to book value, in line with SEGRO’s strategy to exit markets where it does not have, or does not expect to achieve, a scale position.

SEGRO and SELP were advised by Knight Frank.

Notes to Editors:

ABOUT SEGRO

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 eight other European countries.

See www.SEGRO.com for further information.

ABOUT SEGRO EUROPEAN LOGISTICS PARTNERSHIP (‘SELP’):

SELP is a joint venture in which SEGRO owns a 50 per cent interest. It was established in October 2013 and owns over €3.0 billion of big box warehouses and development land across seven Continental European countries. SEGRO acts as asset, property and development manager for SELP.

For further information see www.SELP.lu.

Acquisitions and disposals Investors
Copy URL