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SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Schroder European Reit Acquires French Logistics Asset

Release Date: 07/06/2021 08:00
Code(s): SCD     PDF:  
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Schroder European Reit Acquires French Logistics Asset

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

7 June 2021


Schroder European Real Estate Investment Trust Plc (the "Company"), the company investing in
European growth cities, is pleased to announce that it has exchanged contracts to purchase a freehold
logistics property in Nantes, western France, for €6.15 million, reflecting a net initial yield of 5.5%.

The 8,663 sqm warehouse is fully let to Hachette Livre, a subsidiary of the leading French media group
Lagardère, with an unexpired lease term of c. 7 years. The asset is located in one of France’s fastest
growing regions from a GDP and population perspective and is leased at an affordable and sustainable
rent level, in an area where there is a scarcity of land for further development.

Located close to the A11/D723 and Nantes ring road, the facility is a strategic distribution hub for
Hachette Livre, serving a population of approximately 13 million people across Brittany, Pays de la Loire
and Nouvelle-Aquitaine.

Commenting on the acquisition, Laurent Dubos, Head of Real Estate Investment, France at Schroder
REIM commented:

"We have been seeking to further diversify the Company’s portfolio by both number of assets and
tenants, as well as increase its allocation to the high growth industrial sector. This acquisition achieves
these objectives increasing the portfolio’s industrial weighting from 20% to 22%, whilst deploying a
portion of the proceeds from the recent sale of Boulogne Billancourt.

The asset location is of strategic importance to the tenant, and one of the most desirable logistics
locations in Nantes. Given local supply constraints, it is an area where we expect to see strong rental

The purchase is subject to a waiver of statutory pre-emption rights in the French market and is
therefore expected to complete at the start of August 2021.


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                                              Tel: 020 3727 1000
FTI Consulting

The Company has a primary listing on the London Stock Exchange and a secondary listing on the JSE

JSE Sponsor
PSG Capital

Date: 07-06-2021 08:00:00
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