Europe's largest industrial landlord Segro PLC (SGRO.LN) is planning to start speculative developments this year and expects more investment opportunities in Europe than in the U.K., Chief Executive Ian Coull said on Thursday.

Coull told reporters on a conference call that he won't start speculative developments unless there is a shortage in an area, but that he expects one or two opportunities to emerge in the course of the year.

He added, he expects more investment opportunities to emerge in Europe and said he will be replacing European director Ines Reinmann, who departed in January, this year.

Coull said he doesn't have a spending plan for the year and that if suitable opportunities don't arise, he won't invest. He said capital deployed could be in the range of GBP100 million and GBP250 million.

The CEO confirmed that the company plans to reduce vacancy rates in the Brixton portfolio to 15% over a three year period and is on track to achieve that.

-By Anita Likus, Dow Jones Newswires; +44 20 7842 9407; anita.likus@dowjones.com
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