2nd Jul 2021 11:37
Regional REIT Ltd - real estate investment trust focused on UK offices outside London - Completes sales of Marston Business Park, Tockwith, Wetherby, a multi-let industrial and business park for GBP8.6 million.
Regional REIT notes disposal reflects a 37% uplift from the acquisition price and is a 4.9% premium to the December 31 valuation, with a net initial yield of 7.2%.
Stephen Inglis, chief executive of London & Scottish Property Investment Management, the asset manager of Regional REIT, said: "This disposal is part of our previously announced portfolio reorganisation programme to dispose of our industrial properties which have met their individual asset plans, with the purpose of recycling the capital into higher yielding regional office properties."
Current stock price: 86.70 pence
Year-to-date change: up 5.1%
By Paul McGowan; [email protected]
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