SEGRO to sell Slough offices

SEGRO has appointed CBRE to explore a potential sale of its portfolio of offices on the Bath Road in Slough.

The portfolio contains 972,300 sq ft of office properties and one building currently being developed on a speculative basis. SEGRo say the portfolio generates £21.6 million of annualised rent and has a vacancy rate of approximately 5 per cent.

SEGRO say that there can be no certainty that any sale will occur, and do not state a target value for any potential transaction.

SEGRO have said their strategy is “to develop, own and manage modern warehousing and light industrial property in and around major conurbations and at key transportation hubs”.

The Slough Trading Estate is the largest industrial estate in the Group’s portfolio, with 6.5 million sq ft of office and warehouse space. SEGRO say they remain fully committed to the continued investment in the non-office element of the Slough Trading Estate.

A SEGRO spokesperson, said: “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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