AEW UK REIT PLC Purchase of Property (0351F)
November 09 2015 - 6:50AM
UK Regulatory
TIDMAEWU
RNS Number : 0351F
AEW UK REIT PLC
09 November 2015
09 November 2015
AEW UK REIT plc
AEW UK REIT PLC ACQUIRES INDUSTRIAL INVESTMENT
The Board of AEW UK REIT plc (the "Company") is pleased to
announce the acquisition of an industrial warehouse of
approximately 43,207 sq ft. Equinox, Castlegate Business Park,
Salisbury, let to Equinox International Ltd with WAULT of 1 year to
break and 6 years to expiry, has been bought for GBP2.0m (net of
acquisition costs) reflecting a net initial yield of 11.3%,
reversionary yield of 9.2% and a capital value of GBP46 per sq
ft.
The Property is situated at the western end of Castlegate
Business Park, an established industrial area located 3 miles north
of Salisbury town centre.
With this purchase, the Company has approximately GBP83m
invested, including GBP9.75m in AEW UK's Core Property Fund, and 16
properties.
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, REIT Portfolio Manager at
AEW UK Investment Management LLP, said, "We are pleased to have
acquired this industrial warehouse, which is well located and we
feel positive that the pricing of this asset is well supported by
its underlying vacant possession value."
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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