Le mie ricette per la real estate communitySEGRO plc has acquired a portfolio of offices on the Bath Road, Slough, from clients of AEW for £425 million.
The portfolio represents 89,000 sq m of built space spread across 39 acres of land with a passing rent of £20 million, reflecting a net initial yield of 4.6 per cent.
SEGRO previously developed the office portfolio and sold it as part of its strategy to dispose of non-core assets, with the proceeds reinvested into the Group’s highly profitable development pipeline. Since January 2016, when the office portfolio was sold, the Slough Trading Estate has delivered capital value growth of 59 per cent and was valued at £2.2 billion as of June 2021.
The ageing nature and relatively short lease terms of some of the offices means that this acquisition will enhance SEGRO’s ability to satisfy growing customer demand for data centres, creative industries, life science occupiers and other potential
Source : Company