Acquisition completed of French logistics assets

RNS Number : 6019M

SEGRO PLC

19 September 2012

 

19 September 2012

SEGRO completes the acquisition of prime logistics assets in France for €160.8 million

Further to the announcement of 2 July 2012, SEGRO is pleased to announce that it has now completed the acquisition of a portfolio of eight prime French logistics assets for €160.8 million (£129.7 million) from Foncière Europe Logistique, a subsidiary of Foncière des Régions.

The portfolio comprises 13 buildings, which are 10 years old on average, totalling approximately 255,000 sq m of lettable space and currently generating €14.2 million (£11.5 million) of annualised rental income.

Commenting on the acquisition Chief Investment Officer, Phil Redding, said: "This acquisition significantly enhances SEGRO's existing platform in the Ile de France region and in Lyon and marks another positive step forward with our strategy to expand our portfolio of high quality logistics assets located in the strongest markets."

Exchange rate at 18 September 2012: £1/€1.24

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For further information please contact:

SEGRO

Justin Read (Group Finance Director): [phone]

Kate Heseltine (Investor Relations Manager):  [phone]

Tulchan

John Sunnucks/David Shriver: [phone]

About SEGRO:

SEGRO is Europe's leading owner-manager and developer of industrial property. The Group is a Real Estate Investment Trust (REIT), listed on the London Stock Exchange. SEGRO's portfolio comprises £4.8 billion (as at 30 June 2012) 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 1,400 customers spread across many geographies and different industry sectors. It has 5.2 million sq m of built space and a passing rent roll of £308 million (as at 30 June 2012).  For further information see www.SEGRO.com

 

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