Segro says UK property values increase for first time since 2022

(Reuters) - Warehouse developer Segro said on Friday values of its properties have stabilised, with the UK business seeing its first increase since the cycle turned in 2022, in the aftermath of an ill-timed mini-budget under the Liz Truss government.

The company said overall adjusted net asset value per share - a key measure gauging property valuation - declined 1.8% to 891 pence at half-year end, but value of its UK assets rose 0.9%, compared with a 0.6% fall in the year-ago period.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Mrigank Dhaniwala)