SEGRO Reports Strong Trading Update for 2026

SEGRO plc released a trading update, highlighting strong performance for the period ending 30 September 2026. The Group reported £70 million in new headline rent, a 32% increase from last year. Of this, £42 million came from the existing portfolio, with £28 million from development lettings.

Occupancy rose to 94.7%, and customer retention remains high at 80%. Significant development completions added 152,500 sq m of new space. Current projects under construction could generate up to £103 million in potential rent. Discussions for a data centre in West London are advancing, with a pre-let agreement expected soon.

SEGRO's balance sheet remains robust, supported by £223 million in disposals above book value. The Group is optimistic about its UK big box joint venture, expected to yield £500 million. The Prologis transaction is on track for a first half 2027 conclusion.