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The portfolio comprises seven stand-alone big box warehouses with a total floor space of 203,400 sq m. The assets being sold are located in Warth Park, Raunds; DIRFT, Daventry; Rye Park, Hoddesdon; Hams Hall, Coleshill; Grove Park, Leicester; The Duke, Burton-on-Trent and Magna Park, Lutterworth. The combined vacancy rate is 18.5 per cent and unexpired lease term to the earlier of break or expiry is 6 years. The current passing rent of the portfolio is £10.1 million.

Phil Redding, Chief Investment Officer of SEGRO, said:

“The sale of these assets marks the end of a successful period of ownership by SEGRO, generating a blended ungeared IRR since acquisition of approximately 11 per cent. The proceeds will be recycled into our existing and future development programme, including UK big box logistics parks developed using the Roxhill platform which we acquired last year.”

 

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 7.8 million square metres (84 million square feet) of space valued at £11.7 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.

Acquisitions and disposals Investors
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