Segro signs big Asics contract

Segro has secured its largest pre-let deal to date after agreeing to lease space to Japanese sportswear brand Asics. The FTSE 250 developer said yesterday it is to build a 72,000 square metre distribution centre for Asics Europe at the Segro logistics park near Dusseldorf in Germany. Reporting its third quarter results, Segro said it signed six pre-let deals in the period and now has 18 developments underway representing £14m a year of future rental income. The Asics pre-let is the first major deal for Segro’s €2bn (£1.7bn) joint venture with Canadian pension fund, Public Section Pension Investment, formed earlier this month.