REG - Schroder Euro Real - Property Portfolio Valuation

Schroder European Real Estate Investment TrustAnnouncement

13/01/2025 07:00

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RNS Number : 9606S  Schroder Eur Real Est Inv Trust PLC  13 January 2025

13 January 2025

 

SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC

("SEREIT" or the "Company" and, together with its subsidiaries, the "Group")

 

PROPERTY PORTFOLIO VALUATION

 

INDUSTRIAL VALUATION GROWTH SUPPORTS OVERALL PORTFOLIO VALUATION

 

Schroder European Real Estate Investment Trust plc, the Company investing in
real estate in European growth cities, today provides an update on the
independent valuation of the property portfolio as at 31 December 2024.

 

 * The direct investment property portfolio was independently valued at €194.55
million, reflecting a marginal like-for-like decrease of -0.9%, or €1.70
million, over the quarter, with robust industrial portfolio valuations
offsetting declines in other sectors.

 * In addition, following successful completion of asset management initiatives,
the Company has sold its Frankfurt grocery asset for €11.80 million, net of
expected transaction costs, which is in line with the 30 September 2024
valuation. The sale is expected to complete in the first quarter of 2025.

 * The industrial portfolio valuation increased 2.2% (€1.55 million), driven by
positive investment sentiment translating into stronger investment volumes and
yield compression. The assets in Rumilly (4.6%), Houten (4.9%), Venray I
(4.9%), and II (5.0%) all saw significant increases in value over the quarter.

 * Office portfolio valuations declined -2.4% (-€1.85 million), with a
reduction across assets in Paris, Hamburg, and Stuttgart.

 * Following the Frankfurt sale, the Berlin DIY store is now the sole retail
asset in the portfolio. Its value decreased by 3.2% (€0.90 million) as
valuers revised their cap rates owing to the short remaining lease term.
Negotiations are in progress regarding a potential lease extension.

 * Alternative portfolio valuations fell by 2.4% (€0.50 million), with the
Cannes car showroom remaining unchanged, while the mixed-use data centre in
Apeldoorn declined by €0.50 million, or -3.7%, due to the decreasing
remaining lease term.

 

-Ends-

 

Enquiries:

Jeff O'Dwyer

Schroder Real Estate Investment Management Limited
             Tel: 020 7658 6000

Natalia de Sousa

Schroder Investment Management Limited
                       Tel: 020 7658 6000

Dido Laurimore/Richard Gotla/Ollie Parsons

FTI Consulting
 
Tel: 020 3727 1000

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