Warehouse REIT to acquire industrial development in Oxfordshire
Warehouse Reit
84.70p
16:40 05/11/24
Real estate investment trust Warehouse REIT has exchanged contracts to acquire a 170,000 square foot multi-let industrial development in Oxfordshire via a forward funding agreement.
FTSE AIM 100
3,560.71
16:39 05/11/24
FTSE AIM 50
4,028.47
16:39 05/11/24
FTSE AIM All-Share
736.29
16:50 05/11/24
Real Estate Investment Trusts
2,178.24
16:59 05/11/24
Warehouse REIT said on Monday that it had agreed to purchase the asset, which will be delivered by W Lamb, Blakelands, and Westhall Estates, for a fixed total price of £35.0m.
The AIM-listed firm stated the scheme, which has just secured detailed planning permission and was scheduled to practically complete in December, comes with a 12-month rent guarantee that will show a running yield in excess of 4.6% based on the acquisition cost.
Warehouse REIT added that the 10.6-acre site was strategically located 15 miles east of Oxford and adjacent to the A329, 2.5 miles from Junction 7 of the M40, which connects directly to London and Birmingham.
As of 1035 GMT, Warehouse REIT shares were down 1.34% at 161.60p.