REG-Segro PLC SEGRO sells portfolio of warehouses in Italy

SEGROAnnouncement

16/07/2021 07:00

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SEGRO sells portfolio of warehouses in Italy

 

SEGRO plc (“SEGRO”) has agreed the sale of a portfolio of six Italian
urban warehouses for €127.5( 1 ) million to AXA IM Alts, on behalf of
clients.

The warehouses were developed by SEGRO-Vailog for a global online retail
company to support the growth of its distribution network in Italy. The
portfolio has a total floor space of 56,000 square metres and the warehouses
are located in Florence, Burago, Padua, Parma and Verona. Five of the sales
have already completed and the sixth will complete later this year following
practical completion of additional works.

David Proctor, Managing Director, Group Investment at SEGRO, said:

“We developed and delivered these warehouses for one of our key customers to
support their expansion plans. Investor demand for prime, modern industrial
assets is very strong in Italy as a result of the rapid growth of e-commerce.
The warehouses within this portfolio are located outside our core markets so
we have chosen to capitalise on buoyant market conditions to sell this
portfolio at a price materially ahead of December 2020 book value. We will be
recycling the capital into exciting opportunities in other parts of Italy.”

ENDS

SEGRO plc

Claire Mogford (Head of Investor Relations) 

Tel: +44 (0) 20 7451 9048 / claire.mogford@segro.com
(mailto:claire.mogford@segro.com)

Gary Gaskarth (External Communications Manager) 

Tel: +44 (0) 20 7451 9130 / gary.gaskarth@segro.com
(mailto:gary.gaskarth@segro.com)

Richard Sunderland / Claire Turvey / Eve Kirmatzis (FTI Consulting) 

Tel: +44 (0) 20 3727 1000

Notes to editors:

About SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock
Exchange and Euronext Paris, and is a leading owner, manager and developer of
modern warehouses and industrial property. It owns or manages 8.8 million
square metres of space (95 million square feet) valued at £15.3 billion
serving customers from a wide range of industry sectors. Its properties are
located in and around major cities and at key transportation hubs in the UK
and in seven other European countries.

For over 100 years SEGRO has been creating the space that enables
extraordinary things to happen. From modern big box warehouses, used primarily
for regional, national and international distribution, to urban warehousing
and light industrial property located close to major population centres and
business districts, it provides high-quality assets that allow its customers
to thrive.

A commitment to be a force for societal and environmental good is integral to
SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on
three long-term priorities where the company believes it can make the greatest
impact: Championing Low-Carbon Growth, Investing in Local Communities and
Environments and Nurturing Talent.

See www.SEGRO.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.SEGRO.com&esheet=52460889&newsitemid=20210715005827&lan=en-US&anchor=www.SEGRO.com&index=1&md5=b5cdf519f6dfcc05f2449a37251fecdd)
for further information.

(1) This price refers to the total price inclusive of additional works for one
asset that will complete later in 2021.



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SEGRO plc


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