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LONDON (Alliance News) - AEW UK REIT PLC Friday said it has acquired a property in Runcorn, England for GBP3.4 million.
It is the fifteenth property the real estate firm has purchased, bringing its total invested funds to GBP81.0 million.
The new site, Units 1001 to 1004, Sarus Court are on the Manor Park Industrial Estate to the west of Runcorn. The project is expected to be completed in 2017.
The 3.6 acre site accommodates four industrial warehouse units totalling 56,153 square feet. The property is fully let to two tenants on four leases.
"We are pleased to have acquired another industrial asset for REIT, and this estate stands out as being one of the best specified within the area. As well as this acquisition, we are continuing to make good progress with transactions in line with our deployment timetable and expect to be able to make further announcements very shortly," said Alex Short, company portfolio manager at AEW UK Investment Management LLP.
AEW shares were trading flat at 101.50 pence per share on Friday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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