Jack Sidders

speaker

477 appearances 14 recordings 3 series first heard Jan 2026 last heard 29 Jul

Jack Sidders’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 14 in all, peaking in Jul 2026 with 5.

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Merryn Talks Money · The UK's Shrinking REITs Sector Is Still Attracting Buyers · 8 Jul 2026 podcast

And they've just been consolidated, basically.

All these subscale players have started to be consolidated.

Yeah, sure.

Yeah, I mean, they would be crown jewels of UK publicly traded real estate.

And actually, their origin story itself is quite interesting, particularly when it comes to M&A.

So they're principally a warehouse landlord.

They rent out warehouses to various different types of industrial occupiers and increasingly these days to online retailers and people like that.

So historically, commercial real estate, you would have said the three big sectors were offices, retail, and warehouses.

And offices and retail would have been the kind of twin aristocracies, and sheds would have been the unsexy bit.

So sheds being what people in commercial real estate call warehouses.

And so for your big pension fund, it would maybe, and this is very crudely speaking, maybe they would have had

40% of the portfolio in offices, 40% in retail, and 20% in warehouses.

Now, these days, A, that allocation has been completely upended and is way more diverse, but the big story has probably been the massive reduction in the allocation to retail and the massive increase in the allocation to industrial and warehouses and logistics because of the rise of online shopping.

The rental growth has been unbelievable.

seagrow uh previously known as slough estates uh glamorous exactly yeah reflecting um yeah that sort of prime asset to the west of london very popular place for warehouses and these days increasingly data centers and we'll come on to that um they did a very very well-timed deal just during the gfc um they bought a company called brixton which they're sort of

a peer of theirs, which was very, very over-levered, as were they all at that point, and it had a lot of vacancy in its portfolio.

They managed to buy them in about 2009, pretty cheap, basically rescued them.

And what that meant was they then sort of significantly expanded their portfolio and they had a lot of space to let, just as the e-commerce story was just kind of starting to take off.

Now, it would be a few years before that really became clear, but basically over the last 10, 15 years, they have benefited massively from that, just all this extra demand from

not only from Amazon, but also from conventional retailers who've gone what's known as omni-channel and now do online and physical retail.

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