SEGRO’s rental income rockets

SEGRO’s rental income leapt during the third quarter of its financial year, on the back of strong demand from e-commerce occupiers.

Total headline rent – the annualised gross passing rent receivable once rent incentives have expired – grew by 43% to £52m during the nine months to 30 September compared with the same period last year, including £4.2m in rent from existing space.

In Q3 the industrial specialist contracted £12.6m of new headline rent, compared with £8.8m in the same three months in the previous year.

SEGRO completed 2.4m sq ft (219,800 sq m) of new