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SEGRO sells 2m sq ft of warehouse space to Blackstone in £150m deal

SEGRO sells 2m sq ft of warehouse space to Blackstone in £150m deal

Logistics landlord SEGRO has sold a portfolio of six UK properties to US investor Blackstone.

The warehouses in Swindon, Bicester, Norfolk, Sheffield, Leicestershire and Maidstone total nearly 2m sq ft.

The £153.3m deal comes ahead of data, due to be published tomorrow (Thursday), expected to show that UK commercial property remains the most popular class of investment with international investors, outranking stock markets, gold and government bonds.

The deal leaves SEGRO with a UK big box warehouse portfolio valued at around £481m.

The move follows the announcement of 40,000 sq ft of new lettings at its Gatwick International Distribution Centre.

Segro’s joint venture with Aviva Investors secured lettings to two trade counter operators, Pets Corner and stationery distributor Lyreco taking 9,400 sq ft on a five-year lease.

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