SELP: portfolio acquisition update

RNS Number : 4807I

SEGRO PLC

30 May 2014

 



30 May 2014

SEGRO European Logistics Partnership: portfolio acquisition update

Further to its announcement dated 11 February 2014, SEGRO plc ('SEGRO') confirms that it has completed on €286 million (£233 million¹) of the €472 million (£384 million¹) portfolio acquisition within SEGRO European Logistics Partnership ('SELP'), in which SEGRO owns a 50 per cent interest.

Completion on the remaining assets is expected within the next three months, following resolution of certain outstanding regulatory approvals.

The current contracted annualised net rental income associated with the assets completed is €20.0 million (£16.3 million¹).

¹ Exchange rate as at 29 May 2014: €1.23 / £1

ENDS

Contact:

Harry Stokes, Head of Investor Relations and Research                       Tel: [phone]

Nick Hughes, Director of Marketing and Communications                     Tel: [phone]

Stephanie Highett / Nick Taylor, FTI Consulting                                   Tel:  [phone]

About SEGRO and the SEGRO European Logistics Partnership ('SELP'): 

SEGRO is a leading owner, asset manager and developer of modern warehousing and light industrial properties, with £4.1 billion of assets (at 31 December 2013, including joint ventures at share) principally concentrated in London's Western Corridor (including the Thames Valley) and in key conurbations in France, Germany and Poland. We also develop and own warehouses in important distribution markets in the UK, Belgium, the Netherlands and the Czech Republic, and offices in Slough, Brussels and Milan. The Group serves around 1,250 customers spread across a diverse range of industry sectors. It has 5.3 million square metres of built space under management and a gross passing rent roll of £258 million (SEGRO share).

The SEGRO European Logistics Partnership ('SELP') is a joint venture in which SEGRO owns a 50 per cent interest. It was established in October 2013 and seeded with €1 billion of Continental European big box logistics assets and development land. In February 2014, SELP exchanged contracts to purchase a €472 million portfolio of assets and development land in Germany, Poland and France.

For further information see www.SEGRO.com

 

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