SEGRO (SGRO) Q3 2026 TU earnings summary

Executive summary

• Q3 trading remained strong, with supportive demand-supply dynamics underpinning leasing, rent reversion and development activity.

Financial highlights

• £70m of headline rent contracted YTD, up 32% YoY: £42m from the existing portfolio and £28m from development lettings.

• £223m of disposals completed above book value, with £11m of associated rental income; a further £57m exchanged and due to complete by year-end.

Outlook and guidance

• First fully fitted West London data centre negotiations with Pure DC are ongoing; a pre-let with a major hyperscaler is expected in the coming months, in line with prior expectations.

• A new UK big-box JV is expected to generate c. £500m of net proceeds from seeding built assets and land.

• Prologis transaction expected to conclude in H1 2027, subject to conditions and regulatory processes.