SEGRO continues land acquisition: fourth acquisition since October 2021
SEGRO has acquired a 1.9-hectare property in Essen, which is currently used by DHL as a parcel distribution center
In the medium to long term, the property is to be either modernized or replaced by a modern business park. The seller is a closed real estate fund, which was advised on the sale by the commercial broker Brockhoff INVEST. It was agreed not to disclose the purchase price.
With the purchase, SEGRO continues its strategic property acquisition in Germany. This is the fourth investment since October 2021. At that time, the company acquired a 52,000 square meter property in Frechen near Cologne. The “SEGRO Park Frechen” is to be built there with more than 30,500 square meters of rental space. In December, SEGRO then acquired 63 hectares in Berlin, which are to be used to expand the SEGRO Park Berlin Airport by a further 140,000 square meters of rental space. Most recently, in February 2022, the company also announced the purchase of a 20,000 square meter plot of land in Mörfelden near Frankfurt, on which a modern business park is to be built.
"With the successful implementation of our acquisition strategy, we are laying the foundation for our future growth in Germany and making it clear that we can assert ourselves as a buyer despite the current fierce competition for attractive properties," says Jim Hartley, Managing Director Northern Europe at SEGRO.
SEGRO's acquisition profile includes greenfields and brownfields with a commercial or industrial zone designation or with a corresponding perspective. With regard to the occupancy rate, SEGRO is flexible and acquires the entire range from complete vacancy to full occupancy - sale-and-lease-back transactions are also possible. When it comes to properties suitable for business parks, SEGRO is primarily interested in properties in the top 7 locations.
SEGRO is a UK Real Estate Investment Trust (REIT) listed on the London Stock Exchange and on Euronext Paris. SEGRO is a leading owner, manager and developer of modern logistics and commercial real estate. The company owns or manages 9.6 million square meters of space valued at €24.7 billion and serves clients across a wide range of industries. The company's properties are located in and around major cities and major transport hubs in the UK and seven other European countries.
For over 100 years, SEGRO has been developing areas that make extraordinary things possible. From modern logistics real estate, primarily used as regional, national and international distribution centers, to urban commercial real estate near major population and economic centers, the company offers high-quality real estate that supports the success of SEGRO's clients.
Commitment to caring for society and the environment is an integral part of SEGRO's purpose and strategy. The Responsible Business Framework, Responsible SEGRO, focuses on three long-term priorities that the company believes can make the greatest impact: driving low-carbon growth, investing in local communities and the environment, and promoting of talents.