Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  SEGRO plc    SGRO   GB00B5ZN1N88

SEGRO PLC

(SGRO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

SEGRO : acquires £133 million urban warehouse park in prime London market

10/21/2020 | 02:10am EST

SEGRO acquires £133 million urban warehouse park in prime London market

21 October 2020

SEGRO plc ('SEGRO') has acquired Electra Park, a 13 acre urban warehouse estate in Canning Town, London from Schroders for £133 million.

The estate is in a prime location, close to Canary Wharf and London City Airport as well as being bordered by the A12 and A13 main roads, connecting it directly to central London. It is also within walking distance of three Zone 2/3 London Underground stations allowing easy access for workers on the estate.

Electra Park provides 21,200 sq m of lettable space across 10 units of which nine are let, with the final unit currently under offer. The WAULT on the let space is 4.3 years to break and 6.4 years to expiry. The estate generates a topped-up passing rent of £3.4 million, reflecting a low average in-place rent of approximately £14 per square foot with an estimated ERV of £21 per square foot. Reflecting these low current rental levels and the potential of this unusually central location, the topped-up net initial yield upon acquisition is 2.3 per cent (rising to 2.6 per cent once the vacant unit, currently under discussion, is let) and the equivalent yield is 3.3 per cent.

Alan Holland, Business Unit Director for SEGRO's Greater London portfolio, said:

'This acquisition is an exciting opportunity for SEGRO to consolidate its leading London footprint and is a strong fit with its well established prime urban warehouse portfolio. Situated on the edge of Zone 2, at the gateway between Central London and the rest of our East London assets, it is in an area that is currently undergoing significant redevelopment and modernisation. This should further improve the already attractive supply/ demand dynamics and create the potential for strong rental growth, as we have seen happen in other inner London markets.

Electra Park helps us to build further scale in an area where we have made great progress through the East Plus partnership in conjunction with the Greater London Authority. This enables us to improve choice and provide an excellent customer experience as well as represents an opportunity for us to create value by applying our asset management expertise and knowledge of the local market.'

SEGRO was advised by JLL, Schroders were advised by Gerald Eve.

For more information please contact:

Claire Mogford (Head of Investor Relations)
Tel: +44 (0) 20 7451 9048 / claire.mogford@segro.com

Lizzie Humphreys (External Communications Manager)
Tel: +44 (0) 20 7451 9129 / lizzie.humphreys@segro.com

Richard Sunderland / Claire Turvey / Eve Kirmatzis (FTI Consulting)
Tel: +44 (0) 20 3727 1000

ABOUT SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 8.1 million square metres of space (88 million square feet) valued at £13.3 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 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.

Back to 2020

Disclaimer

SEGRO plc published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 06:09:05 UTC


© Publicnow 2020
All news about SEGRO PLC
11/25Goldman Sachs to open Paris stocks hub to avoid Brexit disruption
RE
11/25SEGRO : UK property group Segro lists shares in Paris as Brexit looms
RE
11/20SEGRO PLC : Receives Approval for Secondary Listing of Shares on Euronext Paris
BU
11/17SEGRO : completes acquisition of Perth Trading Estate, Slough
PU
11/09SEGRO : completes acquisition of Perth Trading Estate, Slough
PU
10/28Property developer Land Securities taps Grainger's Vanessa Simms as CFO
RE
10/26SEGRO : DHL double signing at SEGRO Logistics Park East Midlands Gateway
PU
10/21SEGRO : acquires £133 million urban warehouse park in prime London market
PU
10/21SEGRO : Trading Update
PU
10/19SEGRO : launches final round of 2020 Centenary Fund to support skills and employ..
PU
More news
Financials
Sales 2020 424 M 565 M 565 M
Net income 2020 945 M 1 260 M 1 260 M
Net Debt 2020 2 107 M 2 809 M 2 809 M
P/E ratio 2020 13,5x
Yield 2020 2,40%
Capitalization 10 817 M 14 421 M 14 419 M
EV / Sales 2020 30,5x
EV / Sales 2021 28,2x
Nbr of Employees 317
Free-Float 96,6%
Chart SEGRO PLC
Duration : Period :
SEGRO plc Technical Analysis Chart | SGRO | GB00B5ZN1N88 | MarketScreener
Technical analysis trends SEGRO PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 976,90 GBX
Last Close Price 908,00 GBX
Spread / Highest target 32,2%
Spread / Average Target 7,59%
Spread / Lowest Target -20,2%
EPS Revisions
Managers
NameTitle
David John Rivers Sleath Chief Executive Officer & Executive Director
Gerald Michael Nolan Corbett Chairman
Andrew E. G. Gulliford Chief Operating Officer & Executive Director
Soumen Das Chief Financial Officer & Executive Director
James Power Director-Digital & Technology
Sector and Competitors
1st jan.Capitalization (M$)
SEGRO PLC1.20%14 421
EQUINIX, INC. (REIT)18.82%61 796
DIGITAL REALTY TRUST, INC.13.37%38 032
REALTY INCOME CORPORATION-14.57%22 077
ALEXANDRIA REAL ESTATE EQUITIES, INC.0.62%21 939
W. P. CAREY INC.-11.36%12 444