TSX gains after CPI shows US inflation rose 3%
Investing.com -- SEGRO PLC (LON:SGRO) on Tuesday reported robust third-quarter performance with occupier sentiment improving, evidenced by £22 million in new headline rent secured during the period.
The industrial property developer has now achieved £53 million in annual headline rent year-to-date, with mark-to-market rent growth delivering a 37% uplift across 170 reviews.
UK five-yearly reviews significantly outperformed at 49%, while European properties benefited from CPI indexation, though at a slower pace as inflation moderates.
The company maintained solid occupancy at 94.3% with customer retention holding steady at 86%.
Development completions in the quarter added 34,800 square meters of space and £8 million in annual rent. For 2025 year-to-date, SEGRO has completed 231,600 square meters of developments generating £27 million in annual rent, with 89% of this already secured.
The property group is currently investing £286 million in development projects against guidance of approximately £400 million, and an additional £228 million in assets. Its development pipeline is expected to secure £45 million in future annual rents, with 47% already secured or pre-let, including big box warehouses in France and Italy.
SEGRO has also secured power capacity in key zones, supporting growth in its small but expanding data center projects.
The balance sheet remains strong with new loans and facilities supporting a moderate loan-to-value ratio of 32% and £1.7 billion in available liquidity.
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