Acquisition & Portfolio Update

15th February 2019

Yew Grove REIT plc

(the "Company" or "Yew Grove")

Acquisition of an Office Block, Unit 2600, located in Cork Airport Business Park

and

Portfolio Update

Yew Grove REIT plc (LSE:YEW, Euronext:YEW), which owns a diversified portfolio of Irish commercial property assets, is pleased to announce that it has exchanged contracts on Unit 2600, Cork Airport Business Park, adjacent to Cork Airport. The €7.5 million acquisition represents a net initial yield of 7.85 per cent. after accounting for purchase costs.

The property, a two storey, 40,953 sq. ft office block which was refurbished in 2015 to a high standard and includes a 163-space car park, is tenanted by Clearstream Global Securities Services Ltd, a subsidiary of Deutsche Borse AG, under a 25 year lease with final expiry in just over five years' time.

Completion of car park development in the IDA Athlone Business and Technology Park

Further to its announcement in October 2018, Yew Grove is also pleased to announce the completion of the development of the car park on the IDA Athlone Business and Technology Park for its tenant, KCI Manufacturing ("KCI").

The car park, which ensures that KCI has sufficient parking for its expanding workforce, was completed ahead of schedule, on budget and is subject to a new lease with a maturity matching the existing lease on Yew Grove's building leased to KCI, with breaks on 17 September 2023 and 2028.

Portfolio Update

When completed this investment in Cork Airport Business Park together with the Waterford acquisition announced on 8 February 2018, brings Yew Grove's portfolio to 18 properties totalling in excess of 550,000 sq ft in aggregate and generating an annualised rent roll of over €7.35 million. The portfolio totals almost €90 million in value representing near full deployment of the capital raised by the Company since its IPO in June 2018.

Yew Grove REIT has a differentiated and diverse portfolio of well tenanted commercial office and industrial properties outside of the Dublin central business district. As announced in the Company's results announcement, the Company's geographic target market continues to combine attractive purchase yields and rising rent levels. Against these market dynamics, the Company continues to pursue a number of attractive investment opportunities that would enhance shareholder value and reduce on-going costs per share, if acquired. As set out in the Company's IPO admission document, the Board continues to believe that consolidation within its target market offers the opportunity to build a €300-500 million portfolio of high-yielding, high-quality assets over a three year period and the Board will consider options available to it to increase the scale of the Company to capture such opportunities.

Commenting on the acquisition, Yew Grove CEO Jonathan Laredo said:

"We are pleased to have made our first investment in the city of Cork and to have acquired such an attractive asset in one of the city's premier business parks.

We have successfully invested the capital available to us well within the 12 month time horizon set out at our IPO, acquiring a portfolio with strong tenant covenants and very strong occupancy. We believe we are well positioned to grow this portfolio, both through further acquisitions and through asset management opportunities within the existing properties, with the aim of generating attractive returns for our shareholders."

Enquiries:

Notes to editors:

Yew Grove REIT is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property, with a particular focus on well-tenanted commercial real estate assets comprising office and industrial assets let to Irish government entities (and other state bodies), IDA Ireland supported and other FDI companies, and larger corporates, located in attractive locations in the Dublin suburbs and catchment area, main regional cities, and IDA business parks.

ENDS