Drum Income Plus REIT (DRIP REIT) has announced that it has acquired 3 Lochside Way, Edinburgh Park, for £4.5m. It says that the property is a 24,000 square foot Grade A office building, prominently situated, on Central Scotland’s premier business park with Lockheed Martin, Exception and GL Industrial Services as key tenants. The company says that the purchase price reflects a yield of 8.5%.
3 Lochside Way (pictured) is the company’s eighth acquisition since listing in May 2015 and, following this purchase, DRIP REIT has completed acquisitions valued at £45.7m. The company says that it has a further committed transaction for £2.6m, subject to shareholder approval.
Drum Income Plus REIT acquires 3 Lochside Way, Edinburgh Park, for £4.5m : DRIP
