Segro swoops to buy BAA airport stake

摘要

Segro moved closer to expanding its west London industrial empire this week, by placing under offer BAA's 50% stake in the Airports Property Partnership (APP) with Aviva Investors. The REIT this week entered exclusive talks to buy the portfolio at a price of more than ￡260m. On this basis it is thought that Segro's bid values the entire portfolio at more than ￡520m. The price reflects a net initial yield of less than 6%.