Solid Shed Shares
Industrial developer Segro has successfully placed £325m of new shares, in a move designed to unlock its development pipeline. The industrial sector, plagued by low supply and driven by e-commerce, has been more resilient than other sectors to the impact of Brexit. Segro’s shares are now trading at almost their pre-referendum levels. This compares with the other typically more office-focussed UK REITS, which are currently trading at an average discount of c.10% to pre-vote positions.