Warehouse REIT acquires two e-commerce logistics sites

Industrial assets investor Warehouse REIT said on Thursday that it had increased its e-commerce exposure following the acquisition of two logistics sites.

Warehouse REIT purchased two single-let warehouse assets located in the East Midlands and Cheshire, occupied by Amazon and Wincanton respectively in two separate transactions for a total consideration of £82.0m, reflecting a blended net initial yield of 5.4% and providing a combined weighted average unexpired lease term of nine years.

The AIM-listed group highlighted that the addition of the sites to its portfolio followed its successful equity raise in August, which delivered roughly £153.0m of equity and over £200.0m worth of "investment firepower".

As of 1030 BST, Warehouse REIT shares were down 0.16% at 114.32p.