IN BRIEF: Industrials REIT snaps up more industrial properties

Industrials REIT Ltd - London-based real estate investment trust focused on UK multi-let ...

Alliance News 18 January, 2022 | 8:05AM
Email Form Facebook Twitter LinkedIn RSS

Industrials REIT Ltd - London-based real estate investment trust focused on UK multi-let industrial estates - Acquires two multi-let industrial properties for GBP17.0 million, reflecting a blended net initial yield of 5.8% and an average capital value of GBP98 per square foot. Among the two, Beacon Business Park in Caldicot has been acquired for GBP7.9 million. At Belmont Industrial Estate, Durham, a further three industrial terraces comprising Redlake House, Ottery House and Waldon House have been bought for a combined value of GBP9.11 million.

As a result of these acquisitions and the previously announced disposal of a property in Lugano, Switzerland, Industrials REIT's multi-let portfolio now accounts for 95% of total assets. Early last month, Industrials REIT acquired Harmony Court in Glasgow, Scotland for GBP5.3 million.

Current stock price: ZAR41.80 in Johannesburg; 198 pence in London

By Artwell Dlamini; artwelldlamini@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Industrials REIT Ltd
Industrials REIT Ltd

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures