19th Dec 2019 15:22
(Alliance News) - Property investor Yew Grove REIT PLC said Thursday it acquired six office buildings for a total of EUR25.3 million.
Yew Grove said the portfolio of offices are located at Millennium Park, Naas, in County Kildare, Ireland and are in close proximity to Dublin city centre.
Yew said the portfolio has 141,000 square feet of modern offices over six buildings, as well as 773 car parking spaces and a six-acre greenfield site.
Upon completion, Yew said it will have a portfolio of 28 properties with a gross asset value of approximately EUR140 million and a current annualised rent roll of approximately EUR10.4 million.
"We are pleased to have exchanged on this attractive portfolio of modern office buildings in a well located business park. These are reversionary assets which will benefit from Yew Grove's asset management capabilities and will generate significant value for both tenants and our shareholders," said Chief Executive Officer Jonathan Laredo.
The stock was untraded at EUR0.975 in London on Thursday.
By Arvind Bhunjun; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
YEW.L