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Warehouse REIT acquires four English assets for £18.6m

StockMarketWire.com

Logistics property investor Warehouse REIT said it had acquired a portfolio comprising four single and multi-let distribution warehouse assets for £18.6 million.

The company said the purchase price reflected a blended net initial yield of 6.1%.

The 200,000 square foot portfolio was situated in last mile distribution hubs within the North West and the West Midlands.

The properties were 100% occupied on leases producing a total rent of £1.22 million per annum with an average rent £6.10 per square foot.

The assets included Stonebridge Cross, Droitwich Spa; Valley Point, Rugby; 1 Kingsland Grange, Warrington; and Milner Street, Warrington.



Story provided by StockMarketWire.com