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SEGRO PLC (SGRO)

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daveh
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SEGRO PLC (SGRO)

#215564

Postby daveh » April 17th, 2019, 8:23 am

SEGRO have just released their results for the first qtr here:
www.investegate.co.uk/article.aspx?id=2 ... 4103W&fe=1

"Our business has continued to perform well during the first quarter, securing £21 million of new headline rent from a combination of increasing occupancy, uplifts from rent reviews and renewals and our development activity. We currently have 44 projects under construction, which are expected to generate £57 million of annualised rent and are already 72 per cent leased.
"The new equity raised in February provides the capacity to pursue further growth opportunities and we have a number of additional pre-let development projects at advanced stages of negotiation. Whilst we remain mindful of macroeconomic and political risks, we believe that our high quality portfolio of assets in prime locations across the UK and Continental Europe positions us well to continue to benefit from the structural drivers of e-commerce and urbanisation."

daveh
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Re: SEGRO PLC (SGRO)

#258171

Postby daveh » October 16th, 2019, 8:12 am

3rd qtr results cane be found here:
www.investegate.co.uk/article.aspx?id=2 ... 9941P&fe=1

David Sleath, Chief Executive, said:
"The third quarter has seen another period of strong operational delivery from SEGRO. We have continued to secure high levels of new rental income both from our existing portfolio and from our active development programme, in which we have over 1 million sq m of new space under construction or in advanced discussions. During the period we also added further land and assets in our core urban markets, including in London and Paris to support further growth.
"SEGRO continues to benefit from the structural trends of urbanisation and technological revolution, and despite the uncertain macro-economic backdrop at this time, we head into the final part of the year with confidence. Looking ahead, the combination of new rental income from the development programme, compounded with the benefits of active asset management of our existing portfolio, should enable us to drive sustainable growth in both earnings and dividends."

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Re: SEGRO PLC (SGRO)

#270262

Postby idpickering » December 10th, 2019, 7:06 am

SEGRO TO SELL £241M OF UK BIG BOX WAREHOUSES

SEGRO plc ("SEGRO") has exchanged contracts to sell a portfolio of UK big box warehouses for £241 million to a fund advised by Morgan Stanley Real Estate Investing, acting through a controlled subsidiary in joint venture with Thor Equities Group. The transaction is expected to complete by the end of the year. The price is in line with June 2019 book value.

The portfolio comprises seven stand-alone big box warehouses with a total floor space of 203,400 sq m. The assets being sold are located in Warth Park, Raunds; DIRFT, Daventry; Rye Park, Hoddesdon; Hams Hall, Coleshill; Grove Park, Leicester; The Duke, Burton-on-Trent and Magna Park, Lutterworth. The combined vacancy rate is 18.5 per cent and unexpired lease term to the earlier of break or expiry is 6 years. The current passing rent of the portfolio is £10.1 million.


https://www.investegate.co.uk/segro-plc ... 00092763W/

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Re: SEGRO PLC (SGRO)

#284177

Postby daveh » February 14th, 2020, 9:17 am


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Re: SEGRO PLC (SGRO)

#324493

Postby idpickering » July 8th, 2020, 7:13 am

update on UK June quarter rent collection

SEGRO plc ("SEGRO" or the "Group") today updates the market on the status of rental collections from its UK portfolio associated with the UK quarterly payment date of 24 June 2020 (relating to rent payable in advance for the third quarter of 2020).

· As at 7 July 2020, we had received 93 per cent of the £37 million of rent which was due on the UK quarterly payment date after adjusting for re-profiled rent agreed with customers.

· We continue to work proactively and constructively to support customers impacted by the Covid-19 pandemic on a case by case basis. As a result, £9 million of rent ordinarily due on the UK quarterly payment date has been re-profiled, mostly to be paid in the second half of 2020.

With regard to payments for the second quarter of 2020 across our UK and Continental European portfolio, as at 30 June 2020, 98 per cent of the £88 million rent due has been paid after adjusting for re-profiled rent agreed with customers (£13 million). 2 per cent of the rent due (approximately £1.5 million) remains to be paid.


https://www.investegate.co.uk/segro-plc ... 00043124S/

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Re: SEGRO PLC (SGRO)

#324505

Postby Dod101 » July 8th, 2020, 7:45 am

As a shareholder in SEGRO, I am not sure that I like the use of the word 'reprofiled' in respect to rent due. It is a bit like 'rebased' for dividends. If some rent has been deferred then they should surely be collecting 100% of the remaining rent due on the appropriate date.

Anyway we will see when they announce their half year results early next month.

Dod

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Re: SEGRO PLC (SGRO)

#324558

Postby dealtn » July 8th, 2020, 11:30 am

Dod101 wrote:As a shareholder in SEGRO, I am not sure that I like the use of the word 'reprofiled' in respect to rent due. It is a bit like 'rebased' for dividends. If some rent has been deferred then they should surely be collecting 100% of the remaining rent due on the appropriate date.

Anyway we will see when they announce their half year results early next month.

Dod


If you go from quarterly in advance to monthly in advance you will only collect 1/3 of the original rent on the original due date with the remaining 2/3 "re-profiled" and collected with a 1, or 2, month delay. This "re-profiled" rent will be paid in "second-half of 2020".

If that is what is happening I don't see it as an issue.

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Re: SEGRO PLC (SGRO)

#324592

Postby Dod101 » July 8th, 2020, 2:37 pm

dealtn wrote:If you go from quarterly in advance to monthly in advance you will only collect 1/3 of the original rent on the original due date with the remaining 2/3 "re-profiled" and collected with a 1, or 2, month delay. This "re-profiled" rent will be paid in "second-half of 2020".

If that is what is happening I don't see it as an issue.


Indeed. That seems to be a statement of the obvious. What they are reporting is rent due on 30 June for the third quarter and arrears for the second quarter. The 'reprofiling' sounds like they are deferring some rent to accommodate tenants who cannot pay on the due date. I may be wrong and hopefully it will not be an issue.

Dod


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