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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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  • 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