Schroder Eur Real Est Inv Trust PLC Completion of acquisition (9711W)

TIDMSERE

RNS Number : 9711W

Schroder Eur Real Est Inv Trust PLC

07 August 2018

7 August 2018

Completion of Acquisition

Schroder European Real Estate Investment Trust Plc ("SERE" or the "Company"), the company investing in European growth cities, has completed the purchase of a freehold logistics property in Rumilly, France for EUR8.6 million, as announced on 21 June 2018.

The 16,700 sqm warehouse was acquired off a net initial yield of 7% and is fully let to a strong covenant, a subsidiary of the global food and drink manufacturer Nestlé, with an unexpired lease term of c. 7.5 years. In line with the Company's winning centres strategy, it is located in a region whose economy is forecast to grow faster than the national average(1) and is leased off affordable / sustainable rents, in an area where there is limited supply.

(1) Oxford Economics 2018

Enquiries:

Duncan Owen/Jeff O'Dwyer

   Schroder Real Estate Investment Management Limited                  Tel: [phone] 

Ria Vavakis

   Schroder Investment Management Limited                                     Tel: [phone] 
   Dido Laurimore/Richard Gotla/Methuselah Tanyanyiwa                Tel: [phone] 

FTI Consulting

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

ACQZQLFBVVFEBBD

(END) Dow Jones Newswires

August 07, 2018 02:00 ET (06:00 GMT)