SEGRO plc (SGRO.L), in its interim management statement, reported that its full-year expectations remain unchanged.
In the first quarter, 50 new lettings were signed, representing 72,100 sq m of space and generating 5.2 million pounds of new annualised rental income. This includes 0.9 million pounds of new annualised rental income from the take-up of recently completed developments, but excludes space re-let at the Neckermann site in Frankfurt.
Overall, lettings were completed at good rental levels and were ahead of the valuers' December 2012 estimated rental values, according to the company. As at 31 March 2013, the Group vacancy rate grew to 10.4 percent, largely due to Neckermann's departure from Frankfurt and the sale of the fully let Thales and MPM sites.
For comments and feedback: editorial@rttnews.com