SEGRO rides online retail wave to topple Landsec

SEGRO David Sleath

Group’s industrial focus pays dividends as other top REITs are hit hard by bricks-and-mortar retail woes

In 2004, back when SEGRO was a small property company named Slough Estates, it struck a deal with the mighty Land Securities to exchange the majority of its retail properties for all of the latter’s industrial assets.

Last Friday, the now solely industrial-focused SEGRO overtook the retail- and London-office-focused Landsec to become the UK’s largest listed property group.

The roots of SEGRO’s meteoric rise can be traced back to that deal 14 years ago. Under the stewardship of the late Ian Coull, the strategy to focus on the industrial sector was put in motion.

 …

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article

Registration includes the following benefits:

  • Access up to four FREE articles per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.

Registered users and subscribers SIGN IN here to continue