SEGRO plc has sold City Park Vienna, comprising a cross-dock warehouse, a recently developed urban warehouse park and development land, to Nuveen Real Estate. The asset sold for €65m, in line with December 2019 book value.
The warehouses total 20,100m² of space, comprising an 8,200m² fully let cross-dock facility and a recently completed 11,900m² urban warehouse scheme, which is over 40% let. There is an additional 6.1 hectares of development land with building permits in place for a further 39,000m² of urban warehousing.
This disposal successfully concludes SEGRO’s presence in Austria, in line with the Group’s strategy.