Segro pockets £114m from UK warehouse sale
SEGRO said yesterday it had sold a portfolio of six UK industrial estates to Orchard Street Investment Management for £113.8m to help pay down debts and fund future developments.
Investment manager Orchard Street has pipped rival bidders to the post to buy the Orbital Portfolio.
The six estates comprise 97 warehouse units spread around the M25 and M3 motorways in areas including Hemel Hempstead, Woodford Green and Heathrow.
Orchard Street partner Barney Rowe, said: “This portfolio acquisition presents a rare opportunity for Orchard Street to gain a substantial foothold in the highly sought after south east industrial market.”