Asset manager and developer of modern warehousing and light industrial property, SEGRO has announced the appointment of CBRE to explore the possible sale of its portfolio of offices on Bath Road in Slough.
The portfolio comprises 972,300 sq ft of office properties leased to a variety of blue-chip, national and international businesses, along with as a building currently being developed on a speculative basis.
The portfolio generates £21.6 million in yearly rental income and, as of 31 July this year, has vacancy rate of around 5 per cent with an average lease length of seven years.
SEGRO stresses that there is no certainty that the portfolio will be sold, or the terms of any possible transaction, but any future disposal would be in line with the company’s strategy to focus on warehousing and light industrial property.
A spokesperson for SEGRO commented: “We have appointed CBRE to undertake a marketing campaign ahead of a potential sale of the portfolio of offices on the Bath Road in Slough.
“This is in line with our company strategy to invest in high quality big box, urban logistics and light industrial warehouses around key transport hubs and population centres in the UK and Continental Europe.”
“The Slough Trading Estate, the largest industrial estate in SEGRO’s portfolio and one of Europe’s most important business parks, will continue to be a core part of our ongoing strategy and we remain fully committed to the continued investment in the remainder of the Slough Trading Estate.”
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