AEW UK REIT PLC Purchase of Property (3647X)
August 27 2015 - 12:30PM
UK Regulatory
TIDMAEWU
RNS Number : 3647X
AEW UK REIT PLC
27 August 2015
27 August 2015
AEW UK REIT plc
AEW UK REIT PLC ACQUIRES PROPERTY FOR GBP3.5m
The Board of AEW UK REIT plc (the "Company") is pleased to
announce the completion of a further acquisition for GBP2.18m (net
of acquisition costs).
Vantage Point, 23 Mark Road, Hemel Hempstead comprises a two
storey office building of 18,407 sq ft located within the
established Maylands Business Park located within of the M1
Motorway and 10 miles south of Luton Airport. The property is fully
let to two tenants, providing a weighted average unexpired lease
term of 5 years to break and 9.4 years to expiry. The purchase
price reflects a net initial yield of 8.4% and reversionary yield
of 8.4%.
With this purchase, the Company has approximately GBP60m
invested, including GBP9.75m in AEW UK's Core Property Fund.
The Company is a real estate investment trust ("REIT"), which
aims to deliver an attractive total return to shareholders from
investing predominantly in a portfolio of smaller commercial
properties in the United Kingdom. The Company was listed on the
Official List of the UK Listing Authority and admitted to trading
on the Main Market of the London Stock Exchange on 12 May 2015,
raising GBP100.5m.
Commenting on the deal, Alex Short, the Company's Portfolio
Manager at AEW UK Investment Management LLP, said, "We are pleased
to have acquired another South East office asset for the Company.
We see this sector as attractive due to the increasing levels of
occupational demand. We are still on target to meet our acquisition
timetable and expect to be able to make further announcements over
the coming weeks."
For further information, please contact:
AEW UK Investment Management
LLP
Dana Eisner/Nicki Gladstone 020 7016 4800
Capita Company Secretarial
Services Limited
Marco Murray 020 7954 9792
Dexion Capital plc
Katie Standley 020 7832 0900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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