Property portfolio valuation and rent collection

10 January 2022

PROPERTY PORTFOLIO VALUATION AND RENT COLLECTION UPDATE

Schroder European Real Estate Investment Trust plc ("SERE" or the "Company"), the company investing in real estate in European growth cities, today provides an update on the independent valuation of the property portfolio and rent collection as at 31 December 2021:

- The direct property portfolio was independently valued at €207.1 million, reflecting a like for like increase over the quarter, excluding the impact of a recently acquired industrial warehouse in Venray, Netherlands (valued at €1.65 million), of 2.2%, or €4.35 million. In addition, the Company has a 50% interest in a joint venture in Seville which continues to be recognised at nil interest

- The valuation increase over the quarter was driven by yield compression achieved across office, retail and logistics assets within the portfolio reflecting the benefit of having a diversified portfolio as well as the strength of those individual assets

- The majority of the valuation uplift was driven by:

o Improved yield re-rating at the Berlin retail DIY investment, delivering a valuation increase of €1.8 million, or 6.2%

o Improved yield re-rating at the Hamburg office investment, delivering a valuation increase of €1.2 million, or 5.2%

o Improved yield re-rating at the Rennes logistics investment, delivering a valuation increase of €0.9 million, or 4.8%

- Approximately 96% of rent due for the quarter ended 31 December 2021 has been collected. 

Enquiries:

Jeff O'Dwyer

Schroder Real Estate Investment Management Limited Tel: 020 7658 6000

Ria Vavakis

Schroder Investment Management Limited Tel: 020 7658 2371

Dido Laurimore/Richard Gotla/Ollie Parsons

FTI Consulting Tel: 020 3727 1000