SEGRO was hit hard by the collapse of one of its biggest tenants, the German mail-order company Neckermann.

Parcel delivery

Source: Shutterstock / Gorodenkoff

The developer said at the time there was a risk that from 2013 it would be unable “at least in the short term” to replace the £12m of rent generated from Neckermann.

Last year marked SEGRO’s centenary, with its chief executive, David Sleath, winning Personality of the Year at Property Week’s 25th Property Awards.

In its full-year results for 2020, pre-tax profits had surged 10.8% to £296.5m from £267.5m in 2019.

It is now the UK’s biggest listed real estate company.