Segro agrees to sell Rome warehouse for EUR118m

Property investment and development company Segro has exchanged contracts for the sale of a warehouse in Rome for €118m.

The 158,000 square foot warehouse was developed by Segro-Vailog last year for a global online retail company on a 15-year lease. Located in Passo Corese, around 35 km north east of Rome, the warehouse was designed to cater for the occupier's specific requirements, with three mezzanine levels on a footprint of 60,518 sq m.

Segro's chief investment officer, Phil Redding, said: "Having developed and delivered this state-of-the-art facility for one of our key customers, the largest Segro has ever developed, we have taken the opportunity to sell the asset to capitalise on very strong demand from a wide range of international investors."

At 1600 BST, the shares were down 0.3% to 606.60p.