SEGRO was among the FTSE 100’s best performing stocks in Tuesday trading, as the company was confirmed as taking a lead on a landmark new distribution campus.
The REIT posted the best percentage gain among real estate stocks in the FTSE 100 and one of the largest across the FTSE All-Share, rising by 3.2% to close at 1,290.5p.
SEGRO was today named as SmartParc’s development partner on a £300m, 1.9m sq ft, food manufacturing and distribution campus in Derby. The REIT will make a “multimillion-pound” investment in the project, with national logistics managing director Andrew Pilsworth describing the scheme as having “the potential to be a true game-changer”.
Tuesday was the first day of trading for multi-let industrial specialist Stenprop under its new name, Industrials REIT. Investors saw little difference – its shares closed flat.
The FTSE 100 closed at 6,980, up by 1.1%. The FTSE 250 finished trading at 23,611, up 0.9%.
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
