SEGRO has acquired three fully leased logistics warehouses in the Netherlands for a cash consideration of €222m (£187.8m).

The UK real estate investment trust is listed on the London Stock Exchange and Euronext Paris, and owns or manages around 10.4 million metres of space across Europe, valued at £20.7bn at the end of December 2023, across a range of sectors.

The addition of these three units adds 127,300 square metres to its portfolio.

The properties include a modern logistics estate in Eindhoven, developed in 2020, which was acquired by Nuveen; a newly-built logistics warehouse in Heerlen and a warehouse on the Vossenberg industrial estate in Tilburg, which was acquired by abrdn.

The assets currently generate approximately €10m (£8.5m) of headline rent, which is set to almost double the headline rent attributed to SEGRO’s portfolio.

Head of the Netherlands at SEGRO, Eelco Ouwerkerk, said: "These warehouses are in some of the most attractive and supply-constrained industrial and logistics markets in The Netherlands. The acquisitions are a very positive step forward in the delivery of our plan to build scale in this important region, adding three high quality assets with reversionary potential and significantly increasing the size of our Dutch portfolio."

Managing director for continental Europe at SEGRO, Marco Simonetti, added: "We have been able to leverage our market-leading operating platform and strong local networks to create these opportunities and profitably deploy some of the capital raised in our recent equity placing, at a time when investment markets show signs of stabilisation and the supply of new sustainable warehousing remains constrained."

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