SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Property Portfolio Valuation and Rent Collection Update

Property Portfolio Valuation and Rent Collection Update

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

10 January 2022

        PROPERTY PORTFOLIO VALUATION AND RENT COLLECTION UPDATE

Schroder European Real Estate Investment Trust plc ("SERE" or the "Company"), the
company investing in real estate in European growth cities, today provides an update on
the independent valuation of the property portfolio and rent collection as at 31
December 2021:

   -   The direct property portfolio was independently valued at €207.1 million,
       reflecting a like for like increase over the quarter, excluding the impact of a
       recently acquired industrial warehouse in Venray, Netherlands (valued at €1.65
       million), of 2.2%, or €4.35 million. In addition, the Company has a 50% interest in
       a joint venture in Seville which continues to be recognised at nil interest

   -   The valuation increase over the quarter was driven by yield compression achieved
       across office, retail and logistics assets within the portfolio reflecting the benefit
       of having a diversified portfolio as well as the strength of those individual assets

   -   The majority of the valuation uplift was driven by:
          o Improved yield re-rating at the Berlin retail DIY investment, delivering a
             valuation increase of €1.8 million, or 6.2%
          o Improved yield re-rating at the Hamburg office investment, delivering a
             valuation increase of €1.2 million, or 5.2%
          o Improved yield re-rating at the Rennes logistics investment, delivering a
             valuation increase of €0.9 million, or 4.8%

   -   Approximately 96% of rent due for the quarter ended 31 December 2021 has been
       collected.

Enquiries:

Jeff O’Dwyer
Schroder Real Estate Investment Management Limited                Tel: 020 7658 6000

Ria Vavakis
Schroder Investment Management Limited                            Tel: 020 7658 2371

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.

JSE Sponsor
PSG Capital

Date: 10-01-2022 09:00:00
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