LONDON (ShareCast) - Property developer Segro has sold a recently developed office campus near Milan, as it shifts its weight towards its main markets of warehousing and light industry in London's western corridor and in key conurbations in France, Germany and Poland.
The 61,400 square metre Energy Park development was completed in the middle of 2014 and counts blue-chip clients such as Alcatel Lucent and SAP amongst its clients.

Phil Redding, Segro's Chief Investment Officer, said: "Energy Park is the last of the six, large non-strategic assets identified for disposal in November 2011.

"The portfolio re-shaping programme was a vital element of the Segro strategy to improve the quality of its asset base by focusing on modern warehousing and light industrial property."

The transaction, which has a value of £85.4m (€118.7m), is due to close in the second quarter.

An adjacent eight hectare plot of land, containing redundant premises formerly occupied by Alcatel Lucent, will be retained by Segro.

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