SEGRO plc (LON:SGRO) has exchanged contracts to sell a 158,000 sq m warehouse in Rome for €118 million. The transaction is expected to completed by the end of October 2018.
The warehouse was developed by SEGRO-Vailog in 2017 for a global online retail company on a 15 year lease. It is located in Passo Corese, approximately 35 km north east of Rome, and was designed to cater for the occupier’s specific requirements, with three mezzanine levels on a footprint of 60,518 sq m.
Phil Redding, Chief Investment Officer of SEGRO, said
“Having developed and delivered this state-of-the-art facility for one of our key customers, the largest SEGRO has ever developed, we have taken the opportunity to sell the asset to capitalise on very strong demand from a wide range of international investors.”