SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Sale of Frankfurt grocery retail asset for 11.8 million following completion of asset management initiatives

Sale of Frankfurt grocery retail asset for €11.8 million following completion of asset management initiatives

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")

 Sale of Frankfurt grocery retail asset for €11.8 million following completion of asset
                                management initiatives

Schroder European Real Estate Investment Trust Plc, the company investing in European
growth cities, has announced the sale of a grocery anchored retail asset in Frankfurt, Germany,
for €11.8 million, in line with the 30 September 2024 valuation.

The Company acquired the 4,525 sqm asset, in April 2016 for around €11 million. Management
has recently completed various asset management initiatives, including securing longer-term
leases with Lidl and Fresnapf, thereby helping to improve the long-term income profile of the
asset.

The transaction is expected to complete on 31 March 2025, allowing the Company to retain
all income until then.

Jeff O'Dwyer, Fund Manager for Schroder Real Estate Investment Management Limited,
commented:

"This asset was acquired in April 2016 and has provided the Company with a stable income
stream over the eight years of ownership. Following the completion of our asset management
plan, and given the limited scope for future rental growth, we felt that now was the right time
to sell and crystallise a profit for our shareholders. The sale demonstrates the current investor
demand for assets in the grocery sector, and we expect to use the sale proceeds to enhance
shareholder returns."

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.

7 January 2025

JSE Sponsor
PSG Capital

Date: 07-01-2025 09:00:00
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