The Board of AEW UK REIT has announced the acquisition of a portfolio of three single-let industrial warehouses located in Basingstoke, Rotherham and St Helen’s comprising approximately 232,523 sq ft.
The properties are fully let to Wella (UK) Holdings Ltd, Sapa Components UK Ltd and Kverneland Group UK Ltd respectively. The portfolio provides a WAULT of c.5 years to break and 6 years to expiry. The portfolio was acquired for £9.0m (net of acquisition costs) reflecting a net initial yield of 9.0%, reversionary yield of 9.6% and a capital value of £39 per sq ft overall.
With this purchase, the Company has just over £120m invested in 25 properties, including £9.75m in AEW UK’s Core Property Fund.
AEWU : AEW UK REIT buys three warehouses