Schroder European Real Estate Investment Trust PlcLSE: SERE

Property Portfolio Valuation

· Issued by Schroder European Real Estate Investment Trust PLC

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 LimitedTel: 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