Shedloads of income as Segro fills its space
Heathrow: tenants are snapping up the industrial sheds in and around the airport
11 April 2012
Tenants are snapping up space from property firm Segro, which owns and manages around £1 billion worth of industrial sheds in and around Heathrow airport.
Enquiries remain "robust" and the firm has cut its vacancy rate from 13.5% to 12% in the past year, boosting rental income by almost 5% to £282.1 million in 2010.
Segro reckons that every 1% point fall in vacancies adds around £6 million to earnings.
More than 80% of its UK portfolio is in the more resilient London and South-East.
The firm said: "The strong lettings performance we have achieved has not been at the expense of overall rental levels or by giving away unusually large rental incentives."
