Segro has plans to invest £600m in 2020
Industrial property firm Segro has plans to invest more than £600 million (€721 million/$782 million) in infrastructure and land acquisitions during 2020, according to the firm’s fourth quarter earnings report.
Future earnings prospects are underpinned by 1.2 million square meters (13 million square feet) of development projects under construction or in advanced pre-lease discussions. This equates to an additional 15 percent of space and £70 million (€84 million/$91 million) of potential rent, 71 percent of which relates to pre-leases and leasing prior to completion.
About £692 million (€832 million/$902 million) of investment in our portfolio, including £556 million (€668 million/$725 million) invested in development capex, infrastructure and land as well as £136 million (€163.5 million/$177 million) of asset acquisitions. This was partially offset by £442 million (€531 million/$576 million) of asset and land disposals, including sales of assets