£2.7m share bonus for Segro directors

Industrial property giant Segro, which controls 5.7m sq ft of warehouse and distribution space in the North West, has awarded share payouts to directors.

Segro acquired rival Brixton for £165.5m in the summer, a deal praised by the market and which included 3.2m sq ft in Trafford Park among the new assets. Segro already owned the 2.5m sq ft Heywood Distribution Park in Rochdale.

Ian Coull, chief excutive, was awarded 209,090 shares, worth £804,900 at the issue price of £3.85/share. Inès Reinmann, managing director of the European division, received £516,000 of shares; David Sleath, group finance director £601,900; Ian Sutcliffe, UK managing director £479,900; and general legal counsel and company secretary Elizabeth Blease £224,900.

Segro is now intent on attacking the void rate at Trafford Park which ran at about 30% at the time of takeover, compared to 15% at Heywood.

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By Titi