SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Rent Collection and Property Portfolio Valuation Update

Rent Collection and Property Portfolio Valuation Update

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

26 July 2021

                RENT COLLECTION AND PROPERTY PORTFOLIO VALUATION UPDATE

Schroder European Real Estate Investment Trust plc ("SERE" or the "Company"), the company
investing in real estate in European growth cities, today provides an update on rent collection,
alongside an independent valuation of the property portfolio as at 30 June 2021.

    -   Approximately 94% of rent due for the quarter ended 30 June 2021 has been collected, which
        is ahead of the amount collected in the previous two quarters of 92%
    -   As at 30 June 2021, the property portfolio was independently valued at €204.7 million, an
        increase of 0.9%, or €1.8 million, on the 31 March 2021 valuation of €202.9 million. Excluding
        the 50% interest in Metromar Seville, which has now been reflected at nil in the balance sheet,
        the portfolio increased in value by €2.3 million, or 1.2%
    -   The valuation increase over the quarter was primarily driven by:
             o Full occupation, an improved yield re-rating and ERV growth at the Hamburg office
                investment, delivering a valuation increase of €1.9 million, or 9.5%
             o Improved ERV growth at the Stuttgart office investment, delivering a valuation
                increase of €1.0 million, or 5.4%
    -   The Company has an aggregated loan to value ratio of approximately 29% (gross of cash) as
        at 30 June 2021, with no recourse to the Company and no debt maturity before 2023
    -   The Company continues to review, and is in various stages of the acquisition process
        regarding, new investments that will diversify and strengthen its exposure to growth cities
        and regions. This follows last month’s signing of a €6.15 million logistics investment in Nantes,
        France reflecting a net initial yield of 5.5% and an unexpired lease term of approximately 7
        years.

Enquiries:

Jeff O’Dwyer
Schroder Real Estate Investment Management Limited                Tel: 020 7658 6000

Ria Vavakis
Schroder Investment Management Limited                            Tel: 020 7658 2371

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.

JSE Sponsor
PSG Capital

Date: 26-07-2021 08:00:00
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