SEGRO has sold Pegasus Park in Brussels for €83.4m (no change on the valuation as at 31 December 2013). The property generated a yield, after admin costs, of 9.0%. Pegasus park is an 81,500 sqm office park close to Brussels airport. The high yield reflects the vacancy rate – about 20% – and relatively short weighted average lease length – 3.5 years. The buyer is Are Management LP.
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