Segro acquires four warehouses for £50m

29th Jul 2014 08:07

Segro has acquired a portfolio of four UK logistics properties from Harbert European Real Estate Fund III for £49.5m, which it will fund from existing resources. The purchase price reflects a net initial yield of 6.3%, generating annual net rent of £3.2m. The portfolio comprises four Grade A warehouses totalling 53,100 square metres. Three of the sites are big box distribution warehouses located within the UK logistics "golden triangle" in the Midlands, while the fourth is a light industrial warehouse on a business park in Norfolk. NR