Segro Regulatory News (SGRO)

28 April 2011

Alcatel Lucent signs news technology facility with SEGRO

SEGRO, Europe's leading industrial REIT, is pleased to announce it has agreed to develop a new 32,300 sq m campus facility for Alcatel Lucent at its Energy Park, Vimercate, Italy. 

Alcatel Lucent has entered into a 10 year lease with SEGRO, generating annual rental income of £4.2 million.

This agreement will see SEGRO develop five new buildings for Alcatel Lucent, plus a multi-story car park for use by Alcatel Lucent and other occupiers on the estate. Alcatel Lucent, who have had their headquarters at Energy Park since 1962, currently occupies old industrial style buildings and has been looking to expand its presence on the park for some time. The new buildings will provide modern office accommodation for Alcatel's 1,400 employees who are based at Energy Park.

Subject to planning permission, work on the development will start in Autumn 2011, with Alcatel undertaking a phased move to its new buildings during 2012/2013.

This development is part of SEGRO's longer term Masterplan for Energy Park which will see it become a new style technology campus, attractive to a wide range of modern, hi-tech companies.

Marco Simonetti, SEGRO's Business Unit Director responsible for Italy and France said, 'We are delighted to be building these new offices for Alcatel Lucent. Alcatel Lucent is a valued customer of SEGRO and we look forward to working with them in the next phase of their company development.'

SEGRO acquired Energy Park in August 2007. It is located 20 kms northeast of Milan and close to the A4 motorway (Turin to Venice). The park is located in a well known industrial business zone for leading technology communications companies. Other SEGRO occupiers on the estate include SAP Italy, Stanley Black and Decker, Nobel Biocare, Analog Devices and AWB Consulting.

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About SEGRO

SEGRO is Europe's leading provider of flexible business space. The Group is a Real Estate Investment Trust (REIT), listed on the London Stock Exchange. SEGRO's portfolio comprises £5.3 billion of predominantly industrial and warehouse assets concentrated in and around major business centres and transportation hubs such as ports, airports and motorway intersections. The Group serves over 1,700 customers spread across many geographies and different industry sectors. It has 5.6 million sq m of built space and a passing rent roll of £326 million (as at 31 December 2010).