Segro has said it will likely deploy more of its capital in Continental Europe than in its UK base over the next two years.

CEO Ian Coull was commenting to reporters during a conference call on Thursday to present the firm's preliminary results for the year to end-December 2009. In answer to Reuters, Coull said: 'My personal expectation is that there will be more opportunities in Europe than there will be in the UK, because Europe is about a year behind in terms of the real estate recovery and so there will be opportunities as the market starts to rise.'

Segro reported a loss for the year of £234.1 mln under IFRS compared to £938.1 mln the previous year. Net rental income was up 10% to £269.4 mln compared to £244.9 mln in 2008.