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Warehouse REIT announces £35 million Liverpool transaction
StockMarketWire.com
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AIM-listed Warehouse REIT has announced the acquisition of four modern warehouse units in Liverpool, totalling 390,000 square feet.
The purchase price of £35 million reflects a net initial yield of 5.5%.
Ranging from 74,000 sq ft to 163,000 sq ft, the units are occupied by three separate occupiers spanning the automotive and pharmaceutical sectors.
The properties generate a net rental income of £2.1 million per year equating to a low average rent of £5.31 per sq ft.
On February 5, 2021, Warehouse REIT announced it had successfully raised £45.9 million by way of a placing, to fund a near term pipeline of acquisitions.
Alongside the previously announced £14 million acquisition of two distribution warehouses in Harlow, this transaction substantially deploys the proceeds of the placing and takes Warehouse REIT's portfolio past eight million sq ft.
At 8:40am: (LON:WHR) Warehouse Reit PLC share price was 0p at 114p
Story provided by StockMarketWire.com
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