July 14 2025 16:00
WESTERN EUROPE
Schroder European Real Estate Investment Trust (Sereit) plc, a landlord which invests in real estate in “European growth cities”, has provides an update on the independent valuation of its property portfolio as at June 30 2025.
The property portfolio was independently valued at €193.9m with total portfolio values remaining resilient, with robust industrial portfolio valuations and an uplift in Berlin offsetting declines in other sectors, primarily driven by shortening lease terms.
The uplift in the value of the company’s Berlin DIY asset by €1.0m, or 3.8%, was driven by the successful completion of a new 12-year lease extension with its sole tenant, Hornbach, which is the second largest tenant in the company’s portfolio by income.
“Robust industrial valuations” in both France and the Netherlands (€0.4m, or +0.5%) offset declines in the office portfolio (-€1.2m, or -1.5%), predominantly linked to the Paris asset, and in the alternatives portfolio (-0.3m, or -1.7%), primarily from the value of the mixed-use data centre in Apeldoorn declining by €0.5m, or -3.6%.
In France, valuations were affected by budgetary adjustments resulting in transfer taxes increasing 0.5%.
As previously advised, Sereit said it changed valuers from Knight Frank to Savills effective from June 30 2025.
247@propertyflash.co.za
