AEW UK REIT plc: Planning consent granted for Glasgow asset allowing for completion of sale (1279357)
February 11 2022 - 2:00AM
UK Regulatory
AEW UK REIT plc (AEWU) AEW UK REIT plc: Planning consent granted
for Glasgow asset allowing for completion of sale 11-Feb-2022 /
07:00 GMT/BST Dissemination of a Regulatory Announcement,
transmitted by EQS Group. The issuer is solely responsible for the
content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
11 February 2022
AEW UK REIT Plc
Planning consent granted for Glasgow asset allowing for
completion of sale
AEW UK REIT plc (LSE: AEWU) ("AEWU" or the "Company") is pleased
to announce that planning consent has been granted for the
demolition and development of a 527-unit student accommodation
scheme at 225 Bath Street in Glasgow city centre. This follows the
exchange of contracts for the sale of the site with a subsidiary
company of IQ Student Accommodation in October 2020. The sale of
225 Bath Street is expected to complete after the standard 3-month
judicial review period.
Once the sale has completed, the occupancy rate for AEWU's
portfolio (as of 31 December 2021) will improve to 93.08%, from
88.98%.
Alex Short, Portfolio Manager, AEW UK REIT plc, commented: "This
is the realisation of a long-term asset management strategy for our
office asset in Glasgow. Following its sale, which has been
conditional on planning consent, we will see an increase in the
portfolio's occupancy rate, a reduction in overheads and new
capital for further investment."
Enquiries
AEW UK
Alex Short alex.short@eu.aew.com
+44(0) 20 7016 4848
Nicki Gladstone nicki.gladstone-ext@eu.aew.com
+44(0) 7711 401 021
Company Secretary
Link Company Matters Limited aewu.cosec@linkgroup.co.uk
+44(0) 1392 477 500
TB Cardew AEW@tbcardew.com
Ed Orlebar +44 (0) 7738 724 630
Tania Wild +44 (0) 7425 536 903
Lucas Bramwell +44 (0) 7939 694 437
Liberum Capital
Darren Vickers / Owen Matthews +44 (0) 20 3100 2000
Notes to Editors
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 GBP15 million), on
shorter occupational leases in strong commercial locations across
the United Kingdom. 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 income streams. AEWU is currently paying an annualised dividend
of 8p per share.
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.
www.aewukreit.com
LEI: 21380073LDXHV2LP5K50
About AEW UK Investment Management LLP
AEW UK Investment Management LLP employs a well-resourced team
comprising 29 individuals covering investment, asset management,
operations and strategy. It is part of AEW Group, one of the
world's largest real estate managers, with EUR77.4bn of assets
under management as at 30 September 2021. 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 2021, AEW Group managed EUR36.8bn of real estate assets
on behalf of a number of funds and separate accounts with over 440
staff located in 9 offices.
www.aewuk.co.uk
-----------------------------------------------------------------------------------------------------------------------
ISIN: GB00BWD24154
Category Code: MSCL
TIDM: AEWU
LEI Code: 21380073LDXHV2LP5K50
Sequence No.: 142359
EQS News ID: 1279357
End of Announcement EQS News Service
=------------------------------------------------------------------------------------
Image link:
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1279357&application_name=news
(END) Dow Jones Newswires
February 11, 2022 02:00 ET (07:00 GMT)
Aew Uk Reit (LSE:AEWU)
Historical Stock Chart
From May 2024 to Jun 2024
Aew Uk Reit (LSE:AEWU)
Historical Stock Chart
From Jun 2023 to Jun 2024