logo
Plus   Neg
Share
Email

SEGRO Announces Sale Of Seven UK Big Box Warehouses - Quick Facts

SEGRO plc (SGRO.L) has exchanged contracts to sell a portfolio of UK big box warehouses for 241 million pounds to a fund advised by Morgan Stanley Real Estate Investing. The portfolio comprises seven stand-alone big box warehouses.

Phil Redding, Chief Investment Officer of SEGRO, said: "The sale of these assets generated a blended ungeared IRR since acquisition of approximately 11 percent. The proceeds will be recycled into our existing and future development programme, including UK big box logistics parks developed using the Roxhill platform which we acquired last year."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pfizer said Friday it reached a multi-year deal with Gilead Sciences to manufacture and supply Gilead's investigational antiviral remdesivir for COVID-19 patients. Ferring Pharmaceuticals US is recalling various nasal sprays citing superpotency or amounts of desmopressin higher than specified, the U.S. Food and Drug Administration announced in a statement. The recall involves all lots on the market of DDAVP Nasal Spray 10 mcg/0.1mL, Desmopressin Acetate Nasal Spray 10 mcg/0.1mL, and STIMATE Nasal Spray 1.5 mg/mL. U.S. President Donald Trump has issued executive orders to ban Chinese mobile application TikTok as well as WeChat, citing a threat to national security and its economy. China's ByteDance Ltd. owns TikTok, a video-sharing mobile app, while Tencent Holdings Ltd. owns WeChat, a messaging, social media, and electronic payment app.
Follow RTT