SEGRO plc (“SEGRO”)
selp COMPLETES purchase OF TITANIUM RUTH HOLDCO (PREVIOUSLY TRITAX EUROBOX) ASSETS
Further to its announcement on 28 January 2025, SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership (“SELP”) joint venture, today announces that SELP has completed on the purchase of a portfolio of six assets from Titanium Ruth Holdco Limited (formerly known as Tritax EuroBox plc). The transaction values 100% of the assets at €470 million, including relevant property taxes and subject to customary adjustments.
The portfolio totals 370,000 sq m of fully-leased, highly reversionary, modern logistics space. The assets are located in the established and attractive logistics hubs of Breda and Roosendaal in the Netherlands as well as in the Frankfurt corridor and the Rhine-Ruhr region in Germany. The assets currently generate approximately €24 million of headline rent, resulting in a blended net initial yield of 5.0 per cent and a net true equivalent yield of 5.4 per cent.