26th Apr 2019 12:00
LONDON (Alliance News) - UK commercial property investor LXI REIT PLC said on Friday it has made two acquisitions for GBP17.1 million, partly funded by the disposal of a portfolio of social housing assets for GBP14.1 million.
The first acquisition was a garden centre in Morpeth, Northumberland through a purchase and leaseback to garden centre retailer Dobbies Garden Centres Ltd.
The garden centre includes an extensive range of buildings across an 18-acre site, along with 500 parking spaces.
The second acquisition is the forward purchase of a 15,000 square feet gym facility in Andover, Hampshire, which has been fully pre-let to Pure Gym Ltd on a new 15-year lease.
Both acquisitions were partly funded by proceeds from the disposal of a portfolio of social housing assets to an unnamed social housing specialist.
Shares in LXI REIT were up 0.2% at 128.00 pence on Friday.
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