SEGRO completes Munich disposal earlier than planned

FTSE 250 listed European-focused industrial property specialist SEGRO has completed the disposal of the MPM site in Munich earlier than originally planned.

The sale €65m sale (approximately 56m pounds), first announced on January 8th, was originally pencilled in a £53m and was expected to be completed in March.

The MPM site is a fully-let 155,000 square metre engineering and manufacturing facility acquired by SEGRO in 2007.

Speaking last month, the company said: "This is the first of the large non-strategic assets (identified as non-core at SEGRO's Investor Day in November 2011) to be sold in Continental Europe."

MF