5th Aug 2022 16:36
abrdn Property Income Trust Ltd - UK commercial property investor - Completes the sale of a single-let office building in Kidlington for GBP8.0 million, reflecting a net initial yield of 5.4%. The building is let to Bio-Rad Laboratories Inc on a recently re-geared 10-year lease, with a tenant break option in year five. Says that the building has contributed a 14% annualised return and that the sale is in line with the trust's strategy of reducing office weighting. The proceeds will be reinvested in "more favoured" sectors, it adds. Read More
