Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Says direct investment property portfolio is independently valued at €194.0 million at at March 31, reflecting a marginal like-for-like decrease of 0.3%. Says robust industrial portfolio valuations continue to offset declines in other sectors, primarily driven by shortening lease terms. Notes that the €11.8 million sale of its grocery asset in Frankfurt will complete this month.

Schroder European Real Estate says it will change valuers to Savills from Knight Frank, effective from June 30. Savills conducted a shadow valuation of the company’s portfolio as of March 31, and this valuation was consistent with that of Knight Frank.

Stock price in London: 64.83 pence

12-month change: up 7.0%

Stock price in Johannesburg: R 17.34

12-month change: up 21%

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