28th Feb 2019 17:13
LONDON (Alliance News) - Yew Grove REIT PLC on Thursday said it has completed the acquisition of unit 2600 at the Cork airport business park, Ireland, for an agreed price of EUR7.5 million.
The commercial property investment firm first announced the transaction on February 15. Yew Grove has exchanged contracts for the 40,953 square feet two storey office block, which was refurbished in 2015.
This is the company's first investment in the city of Cork. Including purchase costs, the acquisition represents a net initial yield of 7.9%.
Following the transaction Yew Grove's portfolio consists of 18 properties and totals more than 550,000 square feet.
Yew Grove shares closed untraded on Thursday at EUR1.00.
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YEW.L