LONDON (Alliance News) - AEW UK REIT PLC Monday said it has bought a portfolio of three industrial warehouses for GBP3.1 million.
The warehouses all trade as Nationwide Crash Repair Centres and are located on Moorside Road in Swinton, Wagon Road in Mossley, and Clarke Road in Milton Keynes.
The leases, expiring in August 2023, provide a weighted average unexpired lease term of just under eight years and produce a total rental income of GBP269,000 per year.
"We are pleased to have acquired these industrial warehouses, which are well located and are backed by a strong covenant," Portfolio Manager Alex Short said in a statement.
Shares in AEW closed down 0.4% at 101.51 pence on Monday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Aew Uk Reit (AEWU)