| Type | Public (LSE: SGRO) |
|---|---|
| Industry | Property |
| Founded | 1921 |
| Headquarters | Slough, England, UK |
| Key people | Nigel Rich, Chairman Ian Coull, CEO |
| Revenue | £433.6 million (2010)[1] |
| Operating income | £304.0 million (2010)[1] |
| Net income | £208.3 million (2010)[1] |
| Employees | circa 300 |
| Website | www.segro.com |
SEGRO plc (LSE: SGRO) (formerly known as Slough Estates) is a property investment and development company. It develops and invests in property located in the UK, Continental Europe and the USA focusing on edge of town flexible business space. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is the largest industrial property company in Europe and is the owner of The Slough Trading Estate. The largest trading estate under single ownership in Europe.
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The Company was founded by Sir Percival Perry and Noel Mobbs in 1921 as The Slough Trading Company Ltd with the objective of acquiring and developing the site now occupied by the Slough Trading Estate in Slough.[2]
In the 1926 the Company changed its name to Slough Estates Ltd and in 1931 it expanded north acquiring a site in Birmingham.[2]
In the 1980's it expanded rapidly buying Allnatt Properties and Guildhall Properties in 1984, Helmlace in 1985 and Bredero Properties in 1986.[2] In 1999 it acquired Percy Bilton.[2]
In 2004 it sold a number of retail properties to Land Securities in exchange for some industrial properties.[3]
It converted to Real estate investment trust status and changed its name to SEGRO in 2007.[4] In 2009 it acquired Brixton plc.[5]
SEGRO owns commercial and industrial properties in the UK, France, Germany, Belgium and the USA. The Company's original investment, Slough Trading Estate (operated by Slough Trading Estate Ltd, a subsidiary of SEGRO) is the largest trading estate in Europe under single ownership. Among sites recently acquired in the UK are ones in Bristol, Cambridge and Southampton. The Company also begun one of the biggest developments in its history at the former Royal Aircraft Establishment 'factory' site at Farnborough, Hampshire.
Unlike many other property companies, which have chosen to contract out the management of their assets, SEGRO have always managed their properties directly.
The Company's portfolio was valued at £4.5bn at 31 December 2010.[1]