24th Oct 2018 11:25
LONDON (Alliance News) - LXI REIT PLC said Wednesday it acquired five properties in the UK for a total of GBP109 million.
The real estate investment trust bought a pre-let Travelodge hotel in Edinburgh, Scotland, for GBP6.6 million, reflecting a 5.4% net initial yield. It purchased another hotel, the Jurys Inn hotel in Plymouth, England, for GBP30 million, reflecting a 5.7% net initial yield.
LXI also exchanged contracts to provide forward funding for the pre-let development of a Lidl food store and a B&M discount store to be built in East Fife, Scotland, for GBP8.5 million, reflecting a 6.0% net initial yield.
In Corby, England, the company completed the acquisition of a car storage facility for GBP60 million, reflecting a 5.25% net initial yield.
Lastly, LXI bought a discount store in Carlisle, England, for GBP4.3 million, reflecting a 6.0% net initial yield.
Looking ahead, LXI said it is considering further acquisitions to deploy the full GBP175 million raised through a share placing in mid-October.
LXI shares were trading down 0.6% at 114.80 pence.
Related Shares:
LXI.L