Retention rate remains healthy at Segro

8th Nov 2011 16:32

Industrial property company Segro has continued to deliver good operational results in the third quarter of the year, despite the unsettled macro economic environment. In a statement the company said: "We saw a good level of enquiries across our portfolio with demand both for new space and pre-let developments holding up well and have further reduced our vacancy rate to 10.2%. "Our retention rate remains high and take-backs for the period were in line with our expectations."The firm generated £11.9m of new annualised rental income secured in the third quarter from lettings of existing space and from pre-let developments to be delivered in later periods (Q3 2010: £9.5m).Chief executive David Sleath said: "We are pleased to have delivered a strong performance in the third quarter, keeping our retention rate high, generating good levels of letting and pre-let development activity and further reducing our vacancy rate." The share price had risen 3.14% to 236.6p by 16:37.NR