SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Stabilisation of portfolio values continues as global interest rate hiking cycle comes to an end

Stabilisation of portfolio values continues as global interest rate hiking cycle comes to an end

Schroder European Real Estate Investment Trust PLC

(Incorporated in England and Wales)

Registration number: 09382477

JSE Share Code: SCD

LSE Ticker: SERE

ISIN number: GB00BY7R8K77

(the "Company")




                   SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC
                            ("SEREIT"/ the "Company" / "Group")

                                PROPERTY PORTFOLIO VALUATION

STABILISATION OF PORTFOLIO VALUES CONTINUES AS GLOBAL INTEREST RATE HIKING CYCLE
                                COMES TO AN END

Schroder European Real Estate Investment Trust plc, the company investing in real estate in
European growth cities, today provides an update on the independent valuation of the property
portfolio as at 30 September 2024:

-   The direct property portfolio was independently valued at €208.1 million, reflecting a marginal
    decrease of -0.1% (30 June 2024 +0.1%), or €0.20 million, over the quarter (see footnote 1). This
    is the second consecutive quarter of stabilising values and recent European central bank rate
    cuts are expected to have a further positive impact on investor and occupier confidence,
    liquidity and values
-   Two properties witnessed a valuation increase over the quarter:
         o The Cannes Car Showroom increased €0.20 million, or +2.9%, driven, by index-linked
             income growth of ca 5%;
         o The Stuttgart office increased by €0.05 million, or +0.3%
-   All other property values remained flat, except for the mixed-used data centre in Apeldoorn
    which reduced by €0.45 million, or -3.2%, due to the declining remaining lease term
-   The portfolio's income profile remains robust, benefitting from 100% rent collection over the
    quarter and high occupancy (96%)
-   Based on 30 September 2024 values, the portfolio Loan-to-Value is approximately 33% based on
    gross asset value and 25% net of cash, providing significant flexibility.




Sir Julian Berney Bt., Chairman, commented:
"Following the recent period of macro volatility, there is increasing evidence that the market has
reached an inflection point. Falling inflation and interest rates are providing an underpin for
improving investor sentiment and liquidity, which is translating into valuation resilience, and
provides an encouraging platform as we look ahead to 2025."

Footnote 1: In addition, the Company has a 50% interest in a joint venture in Seville which continues to be recognised at nil value.


Enquiries:
Jeff O'Dwyer
Schroder Real Estate Investment Management Limited                                               Tel: 020 7658 6000
Natalia de Sousa
Schroder Investment Management Limited                                                           Tel: 020 7658 6000
Dido Laurimore/Richard Gotla/Ollie Parsons
FTI Consulting                                                                                   Tel: 020 3727 1000

The Company has a primary listing on the London Stock Exchange and a secondary listing on
the JSE Limited.



London

9 October 2024



JSE Sponsor

PSG Capital

Date: 09-10-2024 08:00:00
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