Segro

SEGRO plc
Company typePublic
LSE: SGRO
FTSE 100 Component
IndustryProperty
Founded1920
HeadquartersLondon, England, UK[1]
Key people
RevenueIncrease £749 million (2023)[2]
Increase £(180) million (2023)[2]
Increase £(253) million (2023)[2]
Websitewww.segro.com

SEGRO plc (formerly known as Slough Estates Group) is a British property investment and development company based in London, England. It develops and invests in property located in the United Kingdom and Continental Europe focusing on edge of town flexible business space. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

A sign at the Slough Trading Estate

The company was founded by Sir Percival Perry and Sir Noel Mobbs in 1920 as The Slough Trading Company Ltd with the objective of acquiring and developing the site now occupied by the Slough Trading Estate in Slough.[3] In 1926 the company changed its name to Slough Estates Ltd and in 1931 it expanded north acquiring a site in Birmingham.[3] In the 1980s it expanded rapidly buying Allnatt Properties and Guildhall Properties in 1984, Helmlace in 1985 and Bredero Properties in 1986.[3] In 1999 it acquired Percy Bilton.[3]

In 2004 it sold a number of retail properties to Land Securities in exchange for some industrial properties.[4] It converted to Real estate investment trust status and changed its name from Slough Estates Group to SEGRO in 2007.[5][6] In 2009 it acquired Brixton plc.[7]

Operations

SEGRO owns commercial and industrial properties in the UK, France, Czech Republic, Poland, Italy, the Netherlands, Belgium, Spain and Germany.[8] The company's portfolio (including joint venture assets) was valued at £16.7 billion at 31 December 2023.[2] In Paris, Segro is developing a 75,000 square metre underground logistics centre close to the city centre for the "Last Mile" of logistics.[9]

Sites include:

References

  1. ^ "Our Offices". Segro. Retrieved 7 July 2019.
  2. ^ a b c d "Annual Results 2023" (PDF). Segro. Retrieved 16 February 2024.
  3. ^ a b c d "Our history". Segro. Retrieved 3 April 2015.
  4. ^ "Land Securities and Slough Estates agree property swap". Investegate. 15 November 2004. Retrieved 3 April 2015.
  5. ^ "Annual Report 2006" (PDF). Segro. Retrieved 27 February 2021.
  6. ^ "Best may be over in dash by companies to convert to REITs". The Independent. 3 January 2007. Retrieved 3 April 2015.
  7. ^ "Segro reaches agreement to buy struggling rival Brixton". The Times. 22 June 2009. Retrieved 3 April 2015.[dead link‍]
  8. ^ "Where we operate". Segro. Retrieved 23 April 2017.
  9. ^ Rafał Ostrowski. "In all shapes and sizes". The Times. Retrieved 20 September 2021.
  10. ^ "One plot left at SEGRO's East Midlands Gateway scheme". Logistics Manager. 7 December 2021. Retrieved 15 February 2022.
  11. ^ "SEGRO submits plans for speculative mega shed in Kettering". Logistics Manager. 9 April 2020. Retrieved 15 February 2022.
  12. ^ "SEGRO buys in Perivale". Capital West. 8 June 2021. Retrieved 15 February 2022.
  13. ^ "Wanis International acquires 100,000 sq ft at SEGRO Park, Rainham". Commercial News Media. 11 August 2021. Retrieved 15 February 2022.
  14. ^ "Data centre drive sends Segro back to Slough". The Times. 24 December 2021. Retrieved 15 February 2022.

Further reading

  • Cassell, Michael Long Lease! The Inside Story of Slough Estates, Pencorp Books 1991