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

12 October 2021

                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 30
September 2021:

   -   The direct property portfolio was independently valued at €201.1 million,
       reflecting a like for like increase over the quarter, excluding the impact of the two
       recently announced acquisitions in Nantes and St Cloud, of 1.1%, or €2.2 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 primarily driven by:
           o Improved yield re-rating at the Hamburg office investment, delivering a
               valuation increase of €1.2 million, or 5.5%
           o Improved ERV growth and yield re-rating at the Stuttgart office
               investment, delivering a valuation increase of €1.1 million, or 5.6%
   -   Approximately 95% of rent due for the quarter ended 30 September 2021 has
       been collected. This is an increase on the March (92%) and June (94%) 2021
       quarters
   -   The Company has previously announced its intention to declare two further
       distributions with a target of approximately 4.75 cents per share each, by way of
       special dividend, over the next nine months, allowing shareholders to benefit
       from the profit associated with the successful execution of the Paris, Boulogne-
       Billancourt business plan.

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: 12-10-2021 08:00:00
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