SEGRO has disposed of a portfolio of logistics warehouses in Italy for a total cash consideration of £275.5m.

The UK-based real estate investment trust (REIT) said that the portfolio consists of four warehouses, with two located in Rome and two in Milan.

SEGRO, listed on the London Stock Exchange and Euronext Paris, owns, manages and develops modern warehouses and industrial property.

As of 31 December 2023, the REIT owns or manages 10.4 million square metres of space, valued at £20.7bn.

The disposed portfolio has a total floor space of 338,745 square metres and all of the warehouses were fully leased to three different customers active in the online and traditional retail sectors, generating a passing rent of just over £16m.

Co-head of Italy at SEGRO, Luca Sorbara, said: "We developed and delivered these modern, highly sustainable warehouses for some of our largest customers in Italy to support their expansion plans. This disposal has enabled us to divest some assets with long-leases and limited asset management potential, allowing us to recycle capital into other attractive development and investment opportunities."

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