SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Schroder European REIT Acquires Car Showroom In Cannes, France

Schroder European REIT Acquires Car Showroom In Cannes, France

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

20 April 2022

                 Schroder European Real Estate Investment Trust Plc


         SCHRODER EUROPEAN REIT ACQUIRES CAR SHOWROOM IN CANNES, FRANCE

Schroder European Real Estate Investment Trust Plc (the "Company"), the company
investing in European growth cities, is pleased to announce that it has exchanged
contracts to purchase a freehold car showroom property in Cannes, southern France, for
€8.4 million, reflecting a net initial yield of 5.5% and a reversionary yield of 6.4%.

The 4,235 sqm showroom is fully let to FCA Motor Village France, a subsidiary of the global
automotive manufacturer Stellantis Corporation. Brands traded from the asset include
Fiat, Alfa Romeo, Jeep, Abarth and Lancia. The remaining lease term is c. 3 years off an
affordable and sustainable rent subject to annual indexation.

Located in one of France’s fastest growing regions from a GDP and population
perspective, the asset serves as the tenants’ primary car showroom within a broader
agglomeration spanning over 20 dealerships that cannot be replicated.

The site benefits from excellent accessibility and visibility, with 200 metres of frontage to
Avenue du Campon, the main arterial road linking the A8 motorway to Cannes.
Neighbouring car dealerships include Lamborghini, Ferrari, Ford and Toyota. The site
benefits from a scarcity of land and longer term scope for alternate use.

Commenting on the acquisition, Jeff O’Dwyer, Fund manager for Schroder Capital commented:
"This acquisition not only offers attractive day one income but also assists in further
diversifying the portfolio while strengthening our exposure to higher growth Continental
European regions. The site configuration and neighbouring medium density residential
creates longer term scope for alternate use. We continue to be patient in investing the
remaining proceeds from the sale of Paris Boulogne Billancourt and expect the availability
of investment opportunities to improve.”

The purchase is subject to a waiver of statutory pre-emption rights in the French market
and is therefore expected to complete in June 2022.

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

Ria Vavakis
Schroder Investment Management Limited                  Tel: 020 7658 6501

Dido Laurimore/Richard Gotla
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: 20-04-2022 08:00:00
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