SEGRO Reports Strong Start to 2026

SEGRO plc released its trading update for the first quarter of 2026, showcasing a robust operational performance. The company reported £23 million in new headline rent, £12 million of which came from development lettings. Despite geopolitical uncertainties, SEGRO continues progressing with new leases and disposals above book value.

David Sleath, CEO, noted the resilience and health of SEGRO's diverse customer base, emphasizing continued demand for industrial, logistics, and data center spaces. The first quarter saw a 38% rent uplift in the UK and stable occupancy at 94.8%.

SEGRO is advancing its data center strategy, securing a 30,000 sq m pre-let, and planning its first fully fitted data center in West London. Active capital recycling has led to £106 million in disposals above book value. The balance sheet remains strong with £1.5 billion in cash and undrawn facilities.