30th Dec 2015 07:20
LONDON (Alliance News) - UK regional commercial property investor Regional REIT PLC on Wednesday said it has exchanged contracts to acquire five assets for GBP37.5 million.
The group has acquired the properties from a retained client of LaSalle Investment Management and expects the assets to provide a net income of GBP3.4 million a year, equating to an 8.25% yield.
The portfolio comprises four multi-let office buildings in Basingstoke, Leeds, Leicester and Manchester, along with an industrial park in Beverley in Yorkshire. Some 80 tenants include BNP Paribas, Europcar, HSS Hire, Greater Manchester Police, Grosvenor Casinos and JD Wetherspoons.
By Sam Unsted; [email protected]; @SamUAtAlliance
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