Industrials REIT Ltd - real estate investment trust investing in UK multi-let industrial properties - Acquires four multi-let industrial estates located in Boston, Barnsley, Leeds and Stockton on Tees for GBP20.9 million. The purchase price reflects a blended net initial yield of 5.7%. The newly acquired properties generate annual rent of GBP1.25 million.
Will Lutton, head of investment at Industrials REIT, says the regional multi-let industrial market is characterised by record low vacancy and strong tenant demand, demonstrated by the 100% occupancy levels across the acquired assets.
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By Artwell Dlamini; artwelldlamini@alliancenews.com
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