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."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
