AEW UK REIT PLC AEW UK REIT acquires Corby site for £12.4m (1961C)
January 18 2018 - 2:00AM
UK Regulatory
TIDMAEWU
RNS Number : 1961C
AEW UK REIT PLC
18 January 2018
18 January 2018
AEW UK REIT acquires Corby site for GBP12.4m
AEW UK REIT plc ("the Company"), which directly owns a
diversified portfolio of regional UK commercial property assets, is
pleased to announce that it has unconditionally exchanged on the
acquisition of 2 Geddington Road, Corby for GBP12.4m. Completion of
the acquisition will take place on the 19 February 2018.
The asset provides an attractive net initial yield of 10% and is
fully let to GEFCO UK Ltd, a wholly owned subsidiary of GEFCO SA, a
global provider of logistics services to manufacturers, with 3.75
years to expiry. The property comprises a secure fenced site along
with a modern industrial property extending to 52,000 sq. ft. and
is used by the tenant for the storage and inspection of
vehicles.
A mix of commercial and residential properties surround the
area, including the Eurohub logistics park and a 250-acre
development site currently being prepared by Frogmore and Mulberry
Developments.
Alex Short, Portfolio Manager, AEW UK REIT, commented: "We are
pleased to announce this latest acquisition which provides an
attractive level of income for the Company. In the longer term we
believe that the site provides good potential for us to add value
due to the adjoining uses being both logistics warehousing and
residential. In addition, Corby Borough Council have proposed to
double the area's population by 2030."
ENDS
About AEW UK REIT
AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total
return to shareholders by investing predominantly in smaller
commercial properties (typically less than GBP10 million), on
shorter occupational leases in strong commercial locations across
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.
The Company is currently invested in office, retail, industrial
and leisure assets with a focus on active asset management,
repositioning the properties and improving the quality of the
income stream.
AEWU is currently paying an annualised dividend of 8p per
share.
www.aewukreit.com
About AEW UK Investment Management LLP
The Investment Manager AEW UK Investment Management LLP is a
50:50 joint venture between the principals of the Investment
Manager and AEW. It employs a well-resourced team comprising 25
individuals covering investment, asset management, operations and
strategy. It is part of AEW Group, one of the world's largest real
estate managers, with EUR57 billion of assets under management as
at 30 September 2017. AEW Group comprises AEW SA and AEW Capital
Management L.P., a U.S. registered investment manager and their
respective subsidiaries. In Europe, as at 30 September 2017, AEW
Group managed EUR26.6 billion in value in properties of all types
located in 15 countries, with close to 400 staff.
www.aewuk.co.uk
AEW UK Enquiries:
Alex Short alex.short@eu.aew.com
+44(0) 207 016 4880
Laura Elkin laura.elkin@eu.aew.com
+44(0) 207 016 4869
Nicki Gladstone nicki.gladstone-ext@eu.aew.com
+44(0) 771 140 1021
Company Secretary
Link Company Matters Limited aewu.cosec@linkgroup.co.uk
+44 (0)20 7954 9547
TB Cardew +44(0) 207 930 0777
Ed Orlebar +44(0) 7738 724 630
Tom Allison +44(0) 7789 998 020
Lucy Featherstone +44(0) 7789 374 663
About AEW Europe
AEW is one of the world's largest real estate asset managers,
with over EUR57bn of assets under management as at 30 September
2017. AEW has over 600 employees, with its main offices located in
Boston, London, Paris and Hong Kong and offers a wide range of real
estate investment products including comingled funds, separate
accounts and securities mandates across the full spectrum of
investment strategies. AEW represents the real estate asset
management platform of Natixis Investment Managers, one of the
largest asset managers in the world.
As at 30 September 2017, AEW managed EUR26.6bn of real estate
assets in Europe on behalf of a number of funds and separate
accounts. AEW has close to 400 employees based in 10 offices across
Europe and has a long track record of successfully implementing
core, value-add and opportunistic investment strategies on behalf
of its clients. In the last five years, AEW has invested and
divested a total volume of over EUR17.5bn of real estate across
European markets.
www.aeweurope.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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