SEGRO Reports Strong Start to 2025 with Key Developments

SEGRO plc has released a trading update for the first quarter of 2025, showcasing robust performance across its portfolio. A highlight of this period is the creation of a £1 billion joint venture to develop the company’s first fully fitted data centre in West London. This strategic move aligns with growth in its active development pipeline and marks a significant milestone in their data centre strategy.

The company secured £13 million in new headline rent, largely from existing assets, with notable rent uplifts in the UK. Customer retention was high at 92%, and occupancy remained stable at 94%. During the period, SEGRO completed development of 50,000 sq m of new space, generating £2 million in headline rent.

SEGRO continues to capitalize on long-term trends favoring modern warehouses. With a strong financial position, it remains poised for further growth, supported by significant cash reserves and committed facilities.