Completion of acquisitions

RNS Number : 6096B

Schroder Eur Real Est Inv Trust PLC

25 September 2018

 

25 September 2018

Completion of acquisitions

Schroder European Real Estate Investment Trust plc ("SERE" or the "Company"), the company investing in European growth cities, has completed the purchase, in separate transactions, of three Netherlands industrial assets, for €19.8 million, reflecting a combined net initial yield of 6.5%, as announced on 21 August 2018.  

SERE's portfolio currently comprises 12 properties with a value of approximately €222 million. The portfolio will generate contracted rents of €16.1 million with an average unexpired lease term to first break and expiry of 5.1 years and 6.7 years (per end of June 2018). The acquisitions provide further sector diversification, with the portfolio having the following allocations; 49% office, 29% retail, 13% industrial and 9% mixed use. Following these acquisitions, SERE has a remaining investment capacity of approximately €15 million.

Enquiries:

Duncan Owen/Jeff O'Dwyer

Schroder Real Estate Investment Management Limited                              Tel: [phone]

Ria Vavakis

Schroder Investment Management Limited                                                     Tel: [phone]

Dido Laurimore/Richard Gotla/Methuselah Tanyanyiwa                              Tel: [phone]

FTI Consulting   

 

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