Regional REIT purchases six new assets – Regional REIT (RGL) announced that it has exchanged contracts to purchase six regional assets from Kildare Partners for £35.2m in an off market transaction.
The net income from the assets purchased is expected to be in the region of £3.1m per annum. This equates to a net initial yield of 8.4% and further utilises the proceeds of a fund-raise that the company conducted in December 2017.
The portfolio consists of five regional offices and one office/distribution property located in Telford, Rotherham, Macclesfield, Dundee, Chelmsford and Bedford. The assets total approximatly 320,000 sq. ft. let to 12 tenants including NHS Property Services Ltd., Swiss Precision Diagnostics, Capgemini, Elior UK Services Ltd., Royal Bank of Scotland plc. and The Scottish Ministers.
RGL : Regional REIT purchases six new assets