6th Dec 2018 12:59
LONDON (Alliance News) - Urban Logistics REIT PLC on Thursday said it completed the acquisition of the freehold site, located at Hudson Road, Bedford, for GBP17.0 million from 3M Products Ltd.
The London-listed industrial and logistics real estate investment trust said the site comprises a building and adjacent development site totalling 20.1 acres.
As part of the acquisition, the company said it has simultaneously sold a plot of development land of 12.1 acres for GBP5.0 million to a local developer that has plans to build new logistics facilities.
Urban Logistics said it started marketing of the warehouse space, and experiences strong interest from potential tenants and expects to lease the space shortly.
"Looking ahead, we remain opportunistically acquisitive, focusing on assets that serve the 'last mile' needs of a diverse tenant base, especially those responding to the challenges of e-commerce and supply chain constraints," said Chief Executive Richard Moffitt.
Urban Logistics shares were trading 1.3% lower on Thursday at 113.00 pence each.
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