28th Apr 2015 06:43
LONDON (Alliance News) - SEGRO PLC Chief Executive David Sleath Tuesday said the property company has made a good start to 2015, with its operational performance in line with its expectations.
In a trading update, the CEO said it was continuing to see a continued low vacancy rate and improving UK rental levels. It is also said its development programme is progressing well and it expects to add projects to the pipeline through the course of the rest of the year.
"Occupational market conditions continue to improve in the UK and are also better in Continental Europe than they were this time last year. Investor demand for well-located industrial and logistics assets remains strong in the UK and, increasingly, in Continental Europe where competition for such assets has also noticeably intensified," Sleath said.
SEGRO said it completed 71,700 square metres of developments in the first quarter, capable of generating annualised rent of GBP2.9 million, of which GBP2.1 million has already been secured.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Segro