SLOUGH (dpa-AFX) - Segro Plc (SGRO.L), a British property investment and
development company, on Thursday registered a strong growth in rent roll for the
first quarter, supported by ongoing favorable occupier market conditions.

The company said that it has disposed of 159 million pounds of land and standing
assets so far this year, including 134 million pounds exchanged since the
quarter end, at prices above December 2023 book values.

Rental income contracted for the first quarter stood at 29 million pounds,
higher than 24 million pounds, recorded for the same period last year.

Pre-lets signed were at 17 million pounds as against 9 million pounds a year
ago.

Total take up declined to 17 million pounds from previous year's 22 million
pounds.

Looking ahead, David Sleath, Chief Executive of Segro, said: 'As stated in our
Full Year 2023 results, our existing portfolio and land bank offer us the
potential to grow our passing rents by more than 50 per cent over the next three
years. The £907 million of new equity raised in February provides us with the
capacity to pursue further attractive growth opportunities, both through
development and asset acquisitions. This gives us confidence in our ability to
deliver further compound growth in earnings and dividends during 2024 and
beyond.'



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