21st Mar 2022 15:19
Warehouse REIT PLC - real estate investment trust focused on warehouses - Exchanges contracts to acquire a 170,000 square feet multi-let industrial development in Thame, Oxfordshire through a forward funding agreement for GBP35 million.
The development is 10.6 acres and comprises 14 units ranging in size from 3,000 to 50,000 square feet.
A partnership between W Lamb, Blakelands and Westhall Estates will take responsibility to deliver the scheme under a fixed price turn-key contract.
"This is a rare opportunity to acquire what we consider will be one of the most sustainable multi-let warehouse schemes in the Oxford area, with strong day one income guaranteed and the potential to drive rents further over the short, medium and long term. Agreeing a fixed price basis for the funding with a very well-respected established development team, combined with our ability to drive the letting on site, furthers the transaction's appeal," said Andrew Bird, managing director of investment advisor Tilstone Partners.
Current stock price: 162.40 pence
12-month change: up 27%
By Dayo Laniyan; [email protected]
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