Segro has promised to increase rents by 50 per cent over the next three years as it supports the recovery in property demand.
The UK’s largest commercial landlord said there had been a “significant increase” in rents and predicted income from them would rise further towards 2027 as more spaces become vacant.
Meanwhile, Segro, which owns or manages properties worth around £21bn, posted profits of £409m by 2023, up 6 per cent on the previous year.
Momentum: Segro said there had been a “significant increase” in rentals and predicted revenue from them would rise even further by 2027 as more spaces become vacant.
This was boosted by a rise in rental income, which rose 13 per cent to £587m on the year. In a bid to sweeten investors, the FTSE 100 group also increased its dividend by 5.7 per cent to 27.8 pence per share.
Mark Crouch, an analyst at investment platform eToro, said: “This earnings report will give shareholders a lot to be positive about.”
The shares rose 1.2 per cent to 843.4 pence.
