Segro sells off Slough office portfolio for £326 million

Property giant Segro has sold the portfolio of offices fronting its massive Slough Trading Estate, which formed the backdrop to the opening credits of Ricky Gervais’s hit comedy The Office.

The line of offices along the Bath Road is let to a string of businesses ranging from multi-national blue chips to smaller local concerns.

It covers 972,000 square feet of leased space and one block under development.

The properties have been sold to clients of the real estate fund manager AEW Europe for £326 million.

They were put on the market in September and were said to have attracted several competing bids.

David Sleath, Segro chief executive, said: “The sale of the Bath Road offices is a key part of our strategy to focus on developing, owning and managing modern warehousing and light industrial property in and around major conurbations and at key transportation hubs.

“With this disposal, over the past four years, we will have disposed of over £2.2 billion of suburban offices and other, non-core, assets and invested over £1.7 billion in the acquisition or development of new assets.”