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Segro PLC on Tuesday highlighted its data centre property pipeline as occupancy remained high, saying it is confident in its ability to capture embedded growth potential in its portfolio. The London-based property developer said £22 million of new headline rent was signed in the third quarter, up 47% from £15 million a year ago. Year-to-date new headline rent is £53 million, down 17% from £64 million a year ago. Chief Executive David Sleath said the group is seeing ‘momentum building’ across its development programme and highlighted ‘a significant value creation opportunity’ in its growing data centre pipeline. Occupancy stood at 94%, and rent reviews delivered a 37% uplift year to date. Segro expects development capital expenditure of around £400 million for 2025. ‘Our fully fitted data centre joint venture is on track to submit a planning application in the coming weeks, and we are progressing multiple negotiations on both powered shells and new fully fitted opportunities in the UK and Continental Europe,’ CEO Sleath said. ‘These factors give us confidence in our ability to capture the embedded growth potential in our existing portfolio and build out our exceptional landbank, which provide the opportunity to double our rent roll. This will support the delivery of further compound growth in earnings and dividends, with significant further value creation upside from our growing data centre pipeline.’ Segro shares were up 3.3% to 695.00 pence on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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