UK economy fears prompt property companies to invest abroad

By Graham Ruddick Published: 8:33PM GMT twenty-five February 2010

Segro

Segro, the industrial skill organisation before well known as Slough Estates, indicated on Thursday that it believes the Continental Europe skill marketplace could potentially suggest some-more tasteful pricing for acquisitions and stronger direct from businesses to take up space.

Ian Coull, arch executive, pronounced that he was "cautious" about occupier direct in the UK, and that the investment marketplace is a year forward of Europe thus potentially charity not as big upturns.

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"Europe is a stronger occupier marketplace in the short-term but once certainty earnings the UK could energy ahead," he said. "Our expectancy is that we will muster majority of the collateral over the Channel."

Mr Coull, who foresee that rents for his warehouses could tumble a serve 4pc this year since of a mismatch in supply and demand, pronounced Segro had �800m of money and committed comforts it could spend.

The company"s comments come only days after Hammerson, the selling centre owner, pronounced it would concentration on developments in France.

Segro on Thursday posted a pre-tax loss of �234.1m for 2009, less than the �938m of 2008, as the worth of the portfolio fell 4.4pc.

The association will compensate a last division of 9.4p on May 6.