1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. SEGRO plc
  6. News
  7. Summary
    SGRO   GB00B5ZN1N88

SEGRO PLC

(SGRO)
  Report
Real-time Estimate Cboe Europe  -  11:30 2022-06-28 am EDT
1039.75 GBX   +0.60%
06/23Segro Launches Offering of $236 Million Senior Unsecured Notes
MT
06/23SEGRO Plc Arranges US Private Placement of Senior Unsecured Notes
CI
06/23SEGRO Plc announced that it expects to receive €225 million in funding
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

SEGRO : continues to expand London footprint with acquisitions totalling £195m

04/25/2022 | 02:10am EDT

SEGRO continues to expand London footprint with acquisitions totalling £195m

25 April 2022

SEGRO has completed £195m of investment in London, acquiring Grand Union Trade Park in Park Royal and growing its Inner London pipeline with the purchase of two assets in Wapping and Clapham, each measuring 2.6 acres in size and providing extensive coverage in east and west London.

Grand Union Trade Park comprises 100,000 sq ft of industrial space across more than four acres. The estate, which is fully let to a mix of trade suppliers, including Screwfix and Howdens, is adjacent to Tudor Industrial Estate and Premier Park, also owned by SEGRO, offering the potential for large-scale redevelopment in the medium to long-term. SEGRO has acquired Grand Union Trade Park from abrdn for an undisclosed fee.

The asset to be known as SEGRO Park Wapping is situated between the City Fringe opportunity area and Canary Wharf, making it the closest in SEGRO's portfolio to central London. The asset in Clapham, which will be named SEGRO Park Clapham, is located close to the high street and Clapham North underground station and is within the Nine Elms growth corridor.

Both the Wapping and Clapham assets have been acquired with the intention of re-developing them into two highly sustainable, best-in-class industrial estates, delivering a combined 150,000 sq ft of net-zero warehouse space, ideally suited to help meet the increasing demand for online products and services in the local communities.

The acquisitions are further evidence of SEGRO delivering on its strategic plan to expand its footprint in Greater and Inner London and adds to the company's future development pipeline following significant purchases in Walthamstow, Waltham Cross, Park Royal, Croydon, Stratford and Belvedere in 2021.

Alan Holland, Managing Director, Greater London at SEGRO,
said:

"These deals represent further positive momentum in the expansion of our urban logistics portfolio in London and are in line with our strategy to build scale and a customer offering in high-density business and residential clusters.

"The purchase at Park Royal complements our existing ownership in the area and unlocks large scale development opportunities for the future, whereas the acquisitions at Wapping and Clapham underline our ability to identify and secure industrial assets in Inner London locations, enabling occupiers to meet the ever-changing demands of their own customers.

"In an increasingly competitive market we will continue to take an innovative and creative approach to secure well-located assets that can be redeveloped or repositioned as high-specification, sustainable warehouse space."

ENDS

For more information please contact:

Gary Gaskarth, External Communications Manager, SEGRO
gary.gaskarth@segro.com / +44 207 451 9069

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 9.6 million square metres of space (103 million square feet) valued at £21.3 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 hubs, to urban warehousing 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' 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 for further information.

Back to 2022

Disclaimer

SEGRO plc published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2022 06:08:09 UTC.


© Publicnow 2022
All news about SEGRO PLC
06/23Segro Launches Offering of $236 Million Senior Unsecured Notes
MT
06/23SEGRO Plc Arranges US Private Placement of Senior Unsecured Notes
CI
06/23SEGRO Plc announced that it expects to receive €225 million in funding
CI
06/20SEGRO : raises sustainability bar with green refurbishment scheme on Slough Trading Estate
PU
06/10SEGRO PLC : Crossing thresholds
CO
06/09SEGRO PLC : Crossing thresholds
CO
05/31SEGRO PLC : Monthly statement on outstanding equity shares and voting rights
CO
05/26Fitch Maintains Segro's Stable Outlook On High Tenant Demand, Occupancy Rate
MT
05/18SEGRO PLC : Crossing thresholds
CO
05/13SEGRO PLC : Crossing thresholds
CO
More news
Analyst Recommendations on SEGRO PLC
More recommendations
Financials
Sales 2022 524 M 645 M 645 M
Net income 2022 2 253 M 2 772 M 2 772 M
Net Debt 2022 4 106 M 5 052 M 5 052 M
P/E ratio 2022 5,58x
Yield 2022 2,61%
Capitalization 12 485 M 15 362 M 15 362 M
EV / Sales 2022 31,6x
EV / Sales 2023 27,8x
Nbr of Employees 385
Free-Float 99,6%
Chart SEGRO PLC
Duration : Period :
SEGRO plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SEGRO PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 1 033,50 GBX
Average target price 1 437,16 GBX
Spread / Average Target 39,1%
EPS Revisions
Managers and Directors
David John Rivers Sleath Chief Executive Officer & Executive Director
Soumen Das Chief Financial Officer & Executive Director
Gerald Michael Nolan Corbett Director
Andrew Harrison Chairman
James Power Director-Digital & Technology
Sector and Competitors
1st jan.Capi. (M$)
SEGRO PLC-28.51%15 249
EQUINIX, INC.-18.52%62 729
REALTY INCOME CORPORATION-3.35%41 625
DIGITAL REALTY TRUST, INC.-21.52%39 513
ALEXANDRIA REAL ESTATE EQUITIES, INC.-35.63%23 427
W. P. CAREY INC.4.55%16 546