Purchase of Property ...
November 17 2015 - 4:23AM
UK Regulatory
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RNS Number : 9776F
AEW UK REIT PLC
17 November 2015
17 November 2015
AEW UK REIT plc
AEW UK REIT PLC ACQUIRES INDUSTRIAL INVESTMENTS
The Board of AEW UK REIT plc (the "Company") is
pleased to announce the acquisition of two neighbouring
industrial warehouses totalling 221,145 sq ft on Langthwaite
Business Park, South Kirkby, let to Ardagh Glass Limited with a
WAULT of approximately 1 year to break and 2.5 years to expiry. The
properties have been bought for £5.8m (net of acquisition costs)
reflecting a net initial yield of 11%, reversionary yield of 12%
and a capital value of £26 per sq ft.
The properties are situated on the well-established
Langthwaite Business Park, South Kirby, West Yorkshire.
With this purchase, the Company has
approximately £88m invested, including £9.75m in AEW UK's Core
Property Fund, and 17 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 £100.5m.
Commenting on the deal, Alex Short, REIT Portfolio
Manager at AEW UK Investment Management LLP, said, "We are pleased
to have acquired these industrial warehouses, which are well
located in an area where there is a dearth of available
accommodation 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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