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Urban Logistics acquires three assets in England for £22.9m
StockMarketWire.com
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Logistics property investor Urban Logistics said it had acquired three assets for a combined £22.9 million in Huntingdon, Northampton and Fareham.
The purchases were part of deployment of capital raised from the company's recent fundraising.
Among the purchases was a 129,222 square foot warehouse, bough from Dart Products, for £2.1 million.
Urban Logistics said it was spending a further £4.6 million on a complete refurbishment of the warehouse, due to complete in May 2021.
The Northampton site, meanwhile, was a 49,433 square foot distribution unit bought for £5.2 million and let to Trans Global. In Fareham, the company acquired a 71,160 square foot distribution unit for £10.9 million from M&G.
'These logistics assets are well located in the Midlands and South East for delivering essential goods the "last mile" to customers and businesses,' chief executive Richard Moffitt said.
'In line with our strategic focus, all of these assets are single-let properties servicing high quality tenants and provide excellent opportunities for value enhancement through active asset management.'
Story provided by StockMarketWire.com
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