News
- Home
- Investment Company News
- RDI REIT acquires an industrial estate for £26.3m
RDI REIT acquires an industrial estate for £26.3m – RDI REIT (RDI) has announced that it has completed the acquisition of Southwood Business Park, an industrial estate in Farnborough, Hampshire.
The total amount paid is £26.3 million, which reflects a net initial yield of 6.2%.
The investment is in line with RDI’s stated strategy to increase its exposure to assets underpinned by strong demographics and occupier demand supported by structural change.
Southwood Business Park is within an established commercial area in Farnborough and located within the M3 corridor approximately 41 miles from Central London.
The asset currently produces net income of £1.75 million with average rents of £12.90 per sqft. The acquisition provides an attractive near-term yield and opportunities to support medium to long term income growth through clearly identified asset management initiatives.
“This acquisition provides us with an increased exposure to the strong performing South East industrial market, whilst achieving an attractive near-term yield of 6.2% in a competitive investment climate. Our ability to execute this transaction once again highlights our disciplined approach to enhancing the quality of our portfolio and our continued focus on delivering superior, sustainable and growing income for our shareholders.”
RDI : RDI REIT acquires an industrial estate for £26.3m