13th Feb 2019 11:39
LONDON (Alliance News) - LXI REIT PLC on Wednesday said it exchanged contracts to provide forward funding to the development of a portfolio of Starbucks and Costa drive-thru format coffee shops, for a total of GBP23.4 million.
The company said that out of the 13 assets in the portfolio, 12 have been pre-let to Starbucks Coffee Co (UK) Ltd and one has been pre-let to Costa Ltd.
Each property will comprise a new drive-thru format coffee shop and the sites are located across the UK, the firm added.
The building works are due to be completed by the end of the third quarter of 2019.
LXI REIT shares were trading down 0.4% at 120.00 pence each.
Related Shares:
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