SEGRO European Logistics Partnership sells the Onyx portfolio to Hines

The portfolio includes SEGRO Logistics Park Saint-Ouen-L'Aumône (95) and SEGRO Logistics Centre Oignies (62), comprising five logistics platforms with a total surface area of almost 130,000 sq m.

The four buildings (1, 2, 3 and 4) of SEGRO Logistics Park Saint-Ouen-L'Aumône have been owned by SELP since its creation in 2013. Buildings 1 and 2, which were developed by SEGRO in 1998, were among the first Grade A warehouses built in France. SEGRO Logistics Centre Oignies building – located south-west of Lille in the Hauts-de-France region – was acquired in 2019.

SEGRO Logistics Park Saint-Ouen-L'Aumône is located in a prime location, just 25 km away from Paris, while SEGRO Logistics Centre Oignies is located in the immediate vicinity of the DELTA 3 multimodal zone in Dourges.

Since then, SEGRO has been actively managing this property complex, achieving significant rent roll growth. These Grade A buildings are 100% let to a number of major occupiers – 3PLs, courier and urban distribution companies.

Laurence Giard, Managing Director of SEGRO France, said:

“SEGRO's Saint-Ouen-L'Aumône and Oignies platforms have performed very well for SELP since they were built and acquired. This sale to Hines allows us to reinvest capital in higher value-added assets, including the development of new buildings in prime locations. This focus allows us to refocus our portfolio on innovative assets that are more aligned with our priorities of sustainability and reducing our environmental footprint.”

Knight Frank and Jones Lang LaSalle (JLL) acted as agents in this transaction, and SEGRO was advised on the legal aspects by August Debouzy, on the technical and environmental aspects by 14 Pyramides, a notary's office, and on the technical and environmental aspects by Egis.

About SELP 

The SEGRO European Logistics Partnership (SELP) was created in October 2013 as a 50:50 joint venture between SEGRO and Public Sector Pension Investment Board, the Canadian pension fund. At its inception, the portfolio injected by SEGRO comprised approximately €1 billion of grade A standing logistics investments and development land. The objective of the venture was to create a leading Continental European logistics platform, initially focused on six geographies, namely France, Germany, Poland, Czech Republic, Belgium and Netherlands.
 
Since then, SELP has also invested in big box warehouses in Italy and Spain and a combination of acquisitions, development and capital value growth means that, at 31 December 2023, the portfolio was valued at €6.7 billion and generated €342 million of annualised headline rent across 5.8 million square metres of lettable area.

About SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 10.8 million square metres of space (116 million square feet) valued at £20.6 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.

For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing (including data centres) located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.

A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing Low-Carbon Growth, Investing in Local Communities and Environments and Nurturing Talent. 

Striving for the highest standards of innovation, sustainable business practices and enabling economic and societal prosperity underpins SEGRO’s ambition to be the best property company.

See www.SEGRO.com for further information.