5th Apr 2019 10:37
LONDON (Alliance News) - Urban Logistics REIT PLC on Friday said it sold one site and acquired a further logistics property.
The real estate investment trust sold a site located in Nuneaton, England, to Cofresh Ltd for GBP8.1 million. The 130,508 square feet building was acquired in September 2017 for GBP6.7 million.
Meanwhile, the company bought a logistics property in Thatcham, England, for GBP3.4 million satisfied from existing cash resources. The site, a 26,478 square feet logistics warehouse, has a rent of GBP7.97 per square foot.
It is currently let on a five-year contract to DHL's UK Mail, which uses it as part of its distribution network.
Chief Executive Officer Richard Moffitt said: "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."
Urban Logistics REIT shares were trading 0.9% higher at 117.50 pence each.
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