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LONDON (Alliance News) - Aberdeen Standard European Logistics Income PLC on Friday said it has acquired a warehouse in France for EUR23.5 million.
Contracts have been exchanged for the logistics warehouse located in Meung-sur-Loire in central France, the investment trust said. The warehouse is fully let to office products supplier Office Depot France SNC.
The net initial yield on the warehouse is 4.7% and the exchanged contracts become unconditional no later than January 22.
The warehouse has a total lettable area of 30,180 square metres and the investment trust's manager believes that the warehouse will "generate a durable income stream" as it is centrally located and has "versatility in terms of potential use" as well as "potential for expansion and further development".
Shares in Aberdeen Standard European Logistics Income were down 0.7% at 103.25 pence on Friday.