SLOUGH (dpa-AFX) - Real estate investment trust Segro Plc. (SGRO.L), in its trading update for the period from 1 January to 16 April 2019, said that its business has continued to perform well in the first quarter, securing 21 million pounds of new headline rent from a combination of increasing occupancy, uplifts from rent reviews and renewals and development activity.
The company said it currently have 44 projects under construction, which are expected to generate 57 million pounds of annualised rent and are already 72 per cent leased.
The company secured 21.2 million pounds of new headline rent in the first-quarter of 2019 down from 27.3 million pounds in the prior year.
The vacancy rate has reduced to 4.4 per cent compared to 5.2 per cent in 31 December 2018. The decrease since December reflects strong lettings of both existing and recently completed speculative space as well as the impact of disposals and low take-backs.
The company will publish 2019 interim results on 23 July 2019.
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