SEGRO exits Austria with sale of City Park Vienna
SEGRO plc (“SEGRO”) has sold City Park Vienna, comprising a cross-dock warehouse, a recently developed urban warehouse park and development land, to Nuveen Real Estate.
The asset sold for €65 million, in line with December 2019 book value.
The warehouses total 20,100 sq m of space, comprising an 8,200 sq m fully let cross-dock facility and a recently completed 11,900 sq m urban warehouse scheme, which is over 40 per cent let. There is an additional 6.1 hectares of development land with building permits in place for a further 39,000 sq m of urban warehousing.
This disposal successfully concludes SEGRO’s presence in Austria, in line with the Group’s strategy.
SEGRO was advised by Knight Frank and Otto Immobilien.
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 of space (84 million square feet) valued at £12.2 billion at 31 December 2019. Its assets are positioned strategically at locations in the UK and across London and the South-East and Midlands regions, while in Continental Europe it has developments in France, Germany, Italy, Poland, Spain, The Netherlands and the Czech Republic.
For 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.