LONDON (Alliance News) - AEW UK REIT PLC said Friday it has acquired a property on Bath Street, Glasgow, for GBP12.2 million.
The property is currently fully let to six tenants. The purchase price reflects a net initial yield of 10.0% and a capital value of GBP139 per square foot, the company said. It provides a total passing rent of GBP1.3 million per year.
"The REIT is currently under offer, or close to being under offer on, a range of similar deals and consequently expect to be able to make further announcements over the coming weeks," said Portfolio Manager Alex Short in a statement.
Shares in AEW UK Reit were down 0.1% at 102.54 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @hanassallnews
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Aew Uk Reit (AEWU)