SEGRO acquires warehouse and office park in Warsaw

European industrial property developer SEGRO has acquired Zeran Park II in Warsaw for 43.2m euro (36.9m pounds) from AREA Property Partners and Apollo-Rida Poland.

European industrial property developer SEGRO has acquired Zeran Park II in Warsaw for 43.2m euro (36.9m pounds) from AREA Property Partners and Apollo-Rida Poland.

The site comprises modern warehouses used for urban distribution and a small office totalling 49,900 sq m of lettable space, approximately 10 km from Warsaw city centre.

David Sleath, SEGRO's Chief Executive, said: "These two recent acquisitions significantly strengthen SEGRO's market position in Warsaw, Poland's largest city and a major economic centre.

"This is in line with our strategic objective to strengthen our presence in and around selected major conurbations by recycling capital out of non-core assets and taking advantage of attractive acquisition and development opportunities.

"Both parks are ideally positioned to accommodate demand for urban logistics space from businesses, such as retailers, servicing customers in the city centre and complement our existing portfolio of prime 'big box' logistics assets in Poland.

"These transactions increase our critical mass in the Warsaw region to almost 140,000 sq m."

More to follow...

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021