September 26, 2024 06:18 GMT
REAL ESTATE: Segro (SGROLN: A-): Trading Update
REAL ESTATE
- Solid update
- Supply/Demand balance remains favourable
- Liquidity returning to investment market (note the success of recent 8yr)
- £58m new headline rent signed - ahead of equivalent 2023 - including £21m from rent reviews +30% ave increase
- Occupancy 94.3% and customer retention 83%
- Improving portfolio with £239m acquisitions and £311m development offset by £500m disposals
- LTV 29%. £2.1bn liquidity.
- Tritax acquisition (all-share) to close in Q4
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