Segro, the real estate investment trust focused on industrial properties, has sold four 'non-core' assets in the north and Midlands.
The portfolio being disposed includes four multi-let industrial estates: Heywood Distribution Park in Rochdale; Trafford Park in Manchester; the Kings Norton Business Centre; and Meteor Park in Birmingham.
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
Commenting, Phil Redding, SEGRO's Chief Investment Officer, said: "In the year to date, assuming the completion of this transaction, we have announced non-core asset disposals of £377m, with further disposals expected during the remainder of the year. This latest announcement is another important step forward in the process of re-shaping our portfolio to focus on core markets."
Segro's share price has declined by 97% in the last five years but today's news had lifted the stock 0.45% by 08:23
BS
-
London claims victory in the Brexit warsOpinion JPMorgan Chase's decision to build a new headquarters in London is a huge vote of confidence and a sign that the City will remain Europe's key financial hub
-
The reinvention of the high street – and how to investThe high street brands that can make shopping and leisure an enjoyable experience will thrive, says Maryam Cockar
