Retention rate remains healthy at Segro

Industrial property company Segro has continued to deliver good operational results in the third quarter of the year, despite the unsettled macro economic environment.

In a statement the company said: "We saw a good level of enquiries across our portfolio with demand both for new space and pre-let developments holding up well and have further reduced our vacancy rate to 10.2%.

"Our retention rate remains high and take-backs for the period were in line with our expectations."

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The firm generated £11.9m of new annualised rental income secured in the third quarter from lettings of existing space and from pre-let developments to be delivered in later periods (Q3 2010: £9.5m).

Chief executive David Sleath said: "We are pleased to have delivered a strong performance in the third quarter, keeping our retention rate high, generating good levels of letting and pre-let development activity and further reducing our vacancy rate."

The share price had risen 3.14% to 236.6p by 16:37.

NR