7 August 2018
Completion of Acquisition
Schroder European Real Estate Investment Trust Plc ("SERE" or the "Company"), the company investing in European growth cities, has completed the purchase of a freehold logistics property in Rumilly, France for €8.6 million, as announced on 21 June 2018.
The 16,700 sqm warehouse was acquired off a net initial yield of 7% and is fully let to a strong covenant, a subsidiary of the global food and drink manufacturer Nestlé, with an unexpired lease term of c. 7.5 years. In line with the Company's winning centres strategy, it is located in a region whose economy is forecast to grow faster than the national average1 and is leased off affordable / sustainable rents, in an area where there is limited supply.
1Oxford Economics 2018
Enquiries:
Duncan Owen/Jeff O'Dwyer
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Ria Vavakis
Schroder Investment Management Limited Tel: 020 7658 2371
Dido Laurimore/Richard Gotla/Methuselah Tanyanyiwa Tel: 020 3727 1000
FTI Consulting
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