SEGRO sells £153m logistics portfolio

SGRO : SEGRO sells £153m logistics portfolio

SEGRO has sold a logistics portfolio, comprising six logistics properties and a smaller regional warehouse for £153.3m – 3% more than the value of the properties in SEGRO’s accounts at the end of June. The portfolio was capable of generating £11.2m in rents.

The 185,331 sq m portfolio comprises logistics warehouses formerly part of the Logistics Property Partnership joint venture located in Bardon, Bicester, Maidstone, Sheffield, and Swindon (two warehouses), and a smaller warehouse in Norfolk purchased by SEGRO as part of a portfolio transaction in July 2014. After the transaction, SEGRO will continue to own £481m of UK big box logistics assets. The proceeds are being used to pay off debt.

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