| Mon 13 Jan 2025, 9:00 | | SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Industrial valuation growth supports overall portfolio valuation |
|
Industrial valuation growth supports overall portfolio valuation
Schroder European Real Estate Investment Trust PLC
(Incorporated in England and Wales)
Registration number: 09382477
JSE Share Code: SCD
LSE Ticker: SERE
ISIN number: GB00BY7R8K77
(the "Company" or the "Group")
INDUSTRIAL VALUATION GROWTH SUPPORTS OVERALL PORTFOLIO VALUATION
Schroder European Real Estate Investment Trust plc, the Company investing in real estate in
European growth cities, today provides an update on the independent valuation of the property
portfolio as at 31 December 2024.
• The direct investment property portfolio was independently valued at €194.55 million,
reflecting a marginal like-for-like decrease of -0.9%, or €1.70 million, over the quarter, with
robust industrial portfolio valuations offsetting declines in other sectors.
• In addition, following successful completion of asset management initiatives, the Company
has sold its Frankfurt grocery asset for €11.80 million, net of expected transaction costs,
which is in line with the 30 September 2024 valuation. The sale is expected to complete in
the first quarter of 2025.
• The industrial portfolio valuation increased 2.2% (€1.55 million), driven by positive
investment sentiment translating into stronger investment volumes and yield compression.
The assets in Rumilly (4.6%), Houten (4.9%), Venray I (4.9%), and II (5.0%) all saw significant
increases in value over the quarter.
• Office portfolio valuations declined -2.4% (-€1.85 million), with a reduction across assets in
Paris, Hamburg, and Stuttgart.
• Following the Frankfurt sale, the Berlin DIY store is now the sole retail asset in the portfolio.
Its value decreased by 3.2% (€0.90 million) as valuers revised their cap rates owing to the
short remaining lease term. Negotiations are in progress regarding a potential lease
extension.
• Alternative portfolio valuations fell by 2.4% (€0.50 million), with the Cannes car showroom
remaining unchanged, while the mixed-use data centre in Apeldoorn declined by €0.50
million, or -3.7%, due to the decreasing remaining lease term.
Enquiries:
Jeff O'Dwyer
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Natalia de Sousa
Schroder Investment Management Limited Tel: 020 7658 6000
Dido Laurimore/Richard Gotla/Ollie Parsons
FTI Consulting Tel: 020 3727 1000
The Company has a primary listing on the London Stock Exchange and a secondary listing on
the JSE Limited.
13 January 2025
JSE Sponsor
PSG Capital
Date: 13-01-2025 09:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
