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Custodian REIT PLC - Leicester, England-based real estate investment trust - Buys 70,160 square foot retail park in Nottingham for £15.0 million. It consists of four units occupied by Wickes Group PLC, Matalan Ltd, Poundland Group Ltd and KFC, with ‘with nearby retailers including Tesco PLC, Wm Morrisons Supermarkets, Lidl Great Britain Ltd and McDonalds Corp.’
‘The units have a weighted average unexpired term to first break or expiry of 9.0 years with an aggregate passing rent of £994,050 per annum, reflecting a net initial yield of 6.2%,’ Custodian adds. Firm describes net initial yield as ‘passing rent divided by valuation plus assumed purchasers' costs.’ The purchase was funded through the company's existing debt resources.
Current stock price: 101.81 pence, down 1.2% on Thursday
12-month change: up 1.8%
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