SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Property Portfolio Valuation

Property Portfolio Valuation

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

13 April 2022

                         PROPERTY PORTFOLIO VALUATION
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 March 2022:

-   The direct property portfolio was independently valued at €211.0 million, reflecting
    a like for like increase over the quarter of 1.9%, or €3.93 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 and
    indexation achieved across select office and logistics assets. With 100% of the
    portfolio leases subject to indexation, rising inflation is starting to contribute to
    rental growth.

-   The portfolio valuation uplift attributable to yield compression was primarily driven
    by:

    -   Improved yield re-rating at the Rennes logistics investment, delivering a valuation 
        increase of €1.4 million, or 7.1%
    -   Improved yield re-rating at the Hamburg office investment, delivering a valuation 
        increase of €1.1 million, or 4.5%
    -   Improved yield re-rating at the Nantes logistics investment, delivering a valuation
        increase of €0.4 million, or 6.5%
    -   Improved yield re-rating at the Rumilly logistics investment, delivering a valuation 
        increase of €0.4 million, or 4.0%

-   Approximately 96% of rent due for the quarter ended 31 March 2022 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: 13-04-2022 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.