Date: Thursday 23 Oct 2014
LONDON (ShareCast) - Stronger occupational marketing conditions helped real estate investment trust Segro to make significant progress in the third quarter.
The company said it added £1.9m in annualised net rent in the three months to 30 September compared with a £0.1m take-back in the corresponding period 12 months ago.
The group, which let 149,000 square metres of existing space in the quarter, said the vacancy rate was 6.2% for the period to the end of September, an improvement from the 8.3% reading it had registered in the previous three months.
Segro completed £246m in acquisition in the third quarter, while disposals amounted to £79m and the group added it has £17m in annualised rent potential from its current development pipeline.
Segro shares were up 2.14% to 366.90p at 16:11 on Thursday.