25th Oct 2018 12:09
LONDON (Alliance News) - Yew Grove REIT PLC said Thursday it exchanged contracts to acquire land from IDA Ireland adjacent to its advanced technology building, currently leased to KCI Manufacturing, in Ireland.
The Irish real estate investment trust said that, in response to demand from its tenant, it will build a 70-space car park which will then be leased to KCI. The investment is expected to total EUR500,000.
Chief Executive Officer Jonathan Laredo said: "We are pleased to announce that we will be providing KCI with increased and enhanced car parking facilities as well as securing the land required for any future expansion of their facilities. We believe that an active partnership with our tenants is the most productive way to help us both grow our businesses."
Yew Grove shares were untraded at EUR1.03.
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