Construction of new building in Athlone

19 March 2021

Yew Grove REIT plc

(the "Company" or "Yew Grove ")

Construction of new building in Athlone

Yew Grove REIT plc (LSE:YEW, Euronext:YEW), which owns a diversified portfolio of Irish commercial property assets, is pleased to that it has agreed a transaction to fund the construction of a new building adjacent to one of its existing properties on the IDA Ireland Business and Technology Park in Athlone.

The new building, of approximately 37,000 sq feet, will be constructed by JJ Rhatigan for an agreed cost of c.€9.3 million on land owned by Yew Grove adjacent to the one of the Company's existing buildings. This new extension has been designed in conjunction with the tenants of the existing building, a multinational in the life science sector. On practical completion of the building, which is expected to take approximately 12 months, the tenant will enter into a lease which will be additive to the portfolio weighted average lease to break as well as accretive to the net yield on Yew Grove's portfolio.

Jonathan Laredo, Chief Executive of Yew Grove, commented:

"We are excited to be working with our tenant and JJ Rhatigan to help deliver a building which allows our tenant to grow its Irish business and workforce. I look forward to the successful completion of this project and the growth of our footprint in Athlone."

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Forward-looking Statements

Certain information contained in this announcement may constitute forward looking information. This information relates to future events or occurrences or the Company's future performance. All information other than information of historical fact is forward looking information. The use of any of the words "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", "predict" and "potential" and similar expressions are intended to identify forward looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. No assurance can be given that this information will prove to be correct and such forward looking information included in this announcement should not be relied upon. Forward-looking information speaks only as of the date of this announcement. The forward-looking information included in this announcement is expressly qualified by this cautionary statement and is made as of the date of this announcement. The Company and its group does not undertake any obligation to publicly update or revise any forward-looking information except as required by applicable securities laws.

Notes to editors

Yew Grove REIT plc, quoted on the London Stock Exchange's AIM market and on the Euronext Growth Market in Dublin, is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property. Yew Grove has a particular focus on well-tenanted commercial real estate assets comprising of office and industrial assets outside of Dublin's Central Business District.

Yew Grove's highly experienced team has a proven track record in commercial property investment and asset management in Ireland and internationally and is focused on delivering results. Its investment approach is strategic, not speculative, principally on assets that are let, pre-let or to be let after refurbishment. Shareholders are provided with stable, long-term income from a diverse portfolio of commercial property comprising well-tenanted real estate in strategic centres let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates.