Segro said the investment market was showing signs of stability again although it warned about future occupier demand in the sector.
Reporting a widening loss in its first results since completing the takeover of rival Brixton this week, Ian Coull, Segro’s chief executive, said that prices for well-let property were beginning to firm.
Adjusted net asset value per share fell to 353p in the first half to June 30, from 698p in December. This reflects the decline in value in Segro’s portfolio of 11.3%, down 13.7% in the UK and 7.2 % in Europe, slightly worse than the benchmark index.
Coull said that further disposals would be made of non-core assets, although the company was now comfortable with its balance sheet position.
Financial Times, The Times