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Segro reports market stability

Segro Europe's largest industrial landlord said yesterday its capital values have stabilised in the UK while lettings and lease renewals for the nine months ended in September settled at 6.7 per cent below valuers' estimated rental values. Segro, which bought rival Brixton in August, reported that its vacancy rate excluding the Brixton portfolio improved from 11.3 per cent in June 2009 to 10.9 per cent at the end of September.