trending Market Intelligence /marketintelligence/en/news-insights/trending/IMqA7IGB0UJiQlP9ifhjLA2 content esgSubNav
In This List

Segro signs contracts to sell 7 UK warehouses for £241M


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Segro signs contracts to sell 7 UK warehouses for £241M

Segro PLC signed contracts to sell seven standalone big-box warehouses in the U.K. for £241 million, in line with the assets' book value as at June.

A fund advised by Morgan Stanley Real Estate Investing, acting through a controlled subsidiary in joint venture with Thor Equities Group, is acquiring the portfolio spanning 203,400 square meters of floor space.

The warehouses are in Warth Park, Raunds; DIRFT, Daventry; Rye Park, Hoddesdon; Hams Hall, Coleshill; Grove Park, Leicester; The Duke, Burton-on-Trent; and Magna Park, Lutterworth. The combined vacancy rate is 18.5%, and the unexpired lease term to the earlier of break or expiry is six years.

Segro plans to recycle the proceeds into its existing and future development projects.

The deal is expected to close by end of 2019.