The boom in online shopping has boosted demand for warehouse space and helped Britain’s largest listed property company to add £21m of rental income in the first quarter.
The extra rent has come from letting empty units, boosts from rent reviews and renewals and from new developments.
The £21m is less than the £27m secured in the same period last year because of a fall in pre-lets on developments yet to be completed. However, Segro reduced its vacancy rate — the proportion of its property portfolio that is empty — from 5.2% to 4.4% over the three months.
