26th Sep 2019 13:10
(Alliance News) - Warehouse REIT PLC said on Thursday it has agreed to buy a multi-let estate in Cheshire, UK for GBP15.5 million.
Midpoint Estate comprises 20 individual warehouse units on 29 acres in a "strategic location" off the M6 motorway. The purchase price reflects a net initial yield of 6.6%.
"This acquisition is a further example of the company continuing to take advantage of the attractive opportunities we are seeing. The company does not intend to issue equity in the near term and remains focused on the active management of the portfolio, including the ongoing rotation of a number of smaller assets, to drive future shareholder returns," said Andrew Bird, Managing Director of Tilstone Partners Ltd.
Shares in Warehouse REIT were flat at 103.00 pence in London on Thursday.
By Lucy Heming; [email protected]
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