AEW UK REIT PLC - UK commercial property investor - Sells two industrial assets for a total of GBP16.7 million. The sale of two units at Langthwaite Industrial Estate in South Kirkby completed on August 20 while Wella Warehouse in Basingstoke has also been sold. Both sales will deliver "significant profit" by exceeding their most recent valuations and the prices AEW paid at acquisition.
"The two assets in South Kirkby and Basingstoke have performed well and delivered excellent returns to AEW shareholders over the last few years, as AEW has enjoyed the benefits of an overall heavy weighting towards the industrial sector," says Portfolio Manager Alex Short.
"The value of the properties has climbed significantly, and we believe now is the time to realise this profit and reinvest the proceeds into new exciting opportunities that we are seeing in the market."
Current stock price: 105.20 pence
Year-to-date change: up 35%
By Will Paige; willpaige@alliancenews.com
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Aew Uk Reit (AEWU)