31st Jan 2022 11:58
Alternative Income REIT PLC - London-based real estate investment company - Acquires a Volvo Car UK Ltd car showroom in Slough, England for GBP5 million. The company says the price reflects a net initial yield of 5% and a discount to replacement costs. The asset has been acquired with a weighted unexpired lease term of over 15 years, Alternative Income adds. The acquisition uses the net proceeds from the group's disposal, announced on November 30, of its Audi AG car showroom in Huddersfield for GBP5.5 million.
Current stock price: 76.74 pence, up 1.5%
12-month change: up 26%
By Heather Rydings; [email protected]
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