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LONDON (Alliance News) - Urban Logistics REIT PLC on Friday said it has sold a site located on Postley Road, Bedfordshire, for GBP9.2 million.
The investment trust said the 85,012 square feet site was purchased at the time of its initial public offering in April 2016 for GBP5.5 million and comprised four industrial units together with a piece of development land.
The development land, which the purchaser has an option to acquire for GBP500,000 if planning permission is granted, is not included in the disposal and will be retained by the company, it highlighted.
The units, which have been sold to Apperly Estates Ltd, are fully let with an average weighted average unexpired lease term of 5.9 years.
"Looking ahead, we remain selectively acquisitive and have an extensive pipeline of opportunities, focusing on properties that serve the 'last mile' needs of a diverse tenant base, especially those responding to the challenges of e-commerce and supply chain constraints," said Chief Executive Richard Moffitt.
Urban Logistics shares were trading 0.7% higher on Friday at 122.90 pence each.
