SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Major lease renewal secured at Berlin investment, ahead of ERV

Major lease renewal secured at Berlin investment, ahead of ERV

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")


               Major lease renewal secured at Berlin investment, ahead of ERV

Schroder European Real Estate Investment Trust plc, the Company investing in European
growth cities and regions, has agreed a 12-year lease regear with DIY specialist Hornbach,
at its Berlin investment. At 11%, Hornbach, which is publicly listed with a market cap of
€1.67 billion, is the second largest tenant in the Company's portfolio by income.

The property comprises 16,800 sqm of lettable area set on a four-acre site and is situated
10 km south of Berlin's city centre in the densely populated area of Mariendorf. The triple
net lease is subject to indexation and has been agreed ahead of the 31 December 2024
estimated rental value (ERV).

Jeff O'Dwyer, Fund Manager, commented: "Through active negotiations, we have been
able to enhance the portfolio's income security and increase the weighted average lease
expiry by 1.3 years, from 3.0 years to 4.3 years(1). Furthermore, this re-gear, which is
expected to positively impact the asset's value and liquidity, reflects the tenant critical
nature of the property which is in a submarket witnessing increasing competition from
higher value use classes for land."

(1)Term to the earlier of break and expiry as at 31 March 2025.


  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.

22 May 2025

JSE Sponsor
PSG Capital

Date: 22-05-2025 08:00:00
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