UK Real Estate Investment Trust (REIT) SEGRO plc has sold City Park Vienna in Austria, comprising a cross-dock warehouse, a recently developed urban warehouse park and development land, to Nuveen Real Estate for €65 million.
”This disposal successfully concludes SEGRO’s presence in Austria, in line with the Group’s strategy,” said SEGRO in a statement.
The warehouses total 20,100 sq m of space, comprising an 8,200 sq m fully let cross-dock facility and a recently completed 11,900 sq m urban warehouse scheme, which is over 40 per cent let. There is an additional 6.1 hectares of development land with building permits in place for a further 39,000 sq m of urban warehousing.
SEGRO was advised by Knight Frank and Otto Immobilien.