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LONDON (Alliance News) - AEW UK REIT PLC Thursday said it has acquired a two-storey office building in Hemel Hempstead for GBP2.2 million.
The real estate investment trust said that Vantage Point, 23 Mark Road, is located within Maylands Business Park and is fully let to two tenants, providing a weighted average unexpired lease term of five years to break and nine years to expiry.
AEW said that it now has approximately GBP60 million invested, including GBP9.8 million in its core property fund.
"We are pleased to have acquired another south east office asset for the company. We see this sector as attractive due to the increasing levels of occupational demand. We are still on target to meet our acquisition timetable and expect to be able to make further announcements over the coming weeks," Portfolio Manager Alex Short said in a statement.
Shares in AEW closed up 0.6% at 103.24 pence on Thursday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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