Segro exits Austria with sale of City Park Vienna

Segro has sold City Park Vienna, comprising a cross-dock warehouse, a recently developed urban warehouse park and development land, to Nuveen Real Estate, it announced on Monday.

The FTSE 100 company said the asset sold for €65m (£58.79m), in line with the December book value.

It said the warehouses total 20,100 square metres of space, comprising an 8,200 square metres of a fully-let cross-dock facility, and a recently completed 11,900 square metre urban warehouse scheme, which is more than 40% let.

There is an additional 6.1 hectares of development land, with building permits in place for a further 39,000 square metres of urban warehousing.

“This disposal successfully concludes Segro’s presence in Austria, in line with the group's strategy,” the board noted in its statement.

At 0946 BST, shares in Segro were up 1% at 889.2p.