5th Nov 2021 15:54
Urban Logistics REIT PLC - UK industrial properties investor - Acquires three assets in Driffield, Spennymoor and Andover for GBP29.0 million at a blended net initial yield of 6.7%. To date, the company has committed or deployed GBP132 million in capital following its equity raise, with GBP23 million of further investments in advanced stages of contractual progress.
In addition, announces new pipeline of over GBP400 million of logistics assets.
"These assets are excellent additions to our fast growing portfolio, and demonstrate our team's continuing ability to source well priced, high quality assets off market at favourable terms. As we move towards our Main Market listing on the London Stock Exchange, we remain committed to our proven strategy to acquire medium sized last mile logistics assets, in key locations, with excellent transport links," says Chief Executive Richard Moffitt.
Current stock price: 177.00 pence
Year-to-date change: up 24%
By Dayo Laniyan; [email protected]
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