Last checked at 1 Jul 2014 07:00
1 July 2014
SEGRO European Logistics Partnership: portfolio acquisition update
Further to its announcements dated 11 February 2014 and 30 May 2014, SEGRO plc ('SEGRO') confirms that, on 30 June 2014, it completed on the remaining €185 million (£148 million1) of the €472 million (£378 million1) portfolio acquisition within SEGRO European Logistics Partnership ('SELP'), in which SEGRO owns a 50 per cent interest.
The current contracted annualised net rental income associated with the assets completed is €11.6 million (£9.3 million1), giving a total of €31.6 million (£25.3 million1) for the portfolio as a whole.
1 Exchange rate as at 30 June 2014: €1.25 / £1
ENDS
Contact:
Harry Stokes, Head of Investor Relations and Research Tel: +44 (0)20 7451 9124
Stephanie Highett / Nick Taylor, FTI Consulting Tel: +44 (0) 20 3727 1000
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).
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 SEGRO's Continental European big box logistics assets and development land. SEGRO acts as asset, property and development manager for the joint venture.
For further information see www.SEGRO.com