Warehouse REIT invests in UK logistics
Warehouse REIT acquired a multi-unit property, which allowed John Lewis in Northampton, and a multi-property industrial estate in Aberdeen.
The property in Northampton is 336,000ft². Two units have an annual rent of 2.1 million euros. The project is located in the ‘Golden Triangle’ at Brackmills Industrial Estate. Among other local invaders are DHL, Yodel, Great Bear and ASDA.
Andrew Bird of Tilstone commented: “Following the successful fundraiser providing the REIT with €138.8m (£120m) of capital to deploy, it is pleasing to deliver these high quality acquisitions, including another from our identified near term pipeline at the time of the equity raise, as we continue to demonstrate that we have the team in place to originate and acquire a range of favourably yielding opportunities across the UK. In Northampton, the warehouses are operationally critical to John Lewis in what is still an undersupplied part of the UK for mid-box warehouses, whilst the Murcar industrial estate will deliver attractive day one income at the sametime as presenting a number of value-enhancing asset management initiatives to both improve the rental tone and deliver capital growth.”
Sevdenur Demir / [email protected]