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SEGRO sells City Park Vienna for €65 million

SEGRO plc (LON:SGRO) has sold City Park Vienna, comprising a cross-dock warehouse, a recently developed urban warehouse park and development land, to Nuveen Real Estate. The asset sold for €65 million, in line with December 2019 book value.

The warehouses total 20,100 sq m of space, comprising an 8,200 sq m fully let cross-dock facility and a recently completed 11,900 sq m urban warehouse scheme, which is over 40 per cent let. There is an additional 6.1 hectares of development land with building permits in place for a further 39,000 sq m of urban warehousing.

This disposal successfully concludes SEGRO’s presence in Austria, in line with the Group’s strategy.

SEGRO was advised by Knight Frank and Otto Immobilien.

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