Industrials REIT Ltd - London-based real estate investment trust focused on UK multi-let industrial estates - Acquires two multi-let industrial properties for GBP17.0 million, reflecting a blended net initial yield of 5.8% and an average capital value of GBP98 per square foot. Among the two, Beacon Business Park in Caldicot has been acquired for GBP7.9 million. At Belmont Industrial Estate, Durham, a further three industrial terraces comprising Redlake House, Ottery House and Waldon House have been bought for a combined value of GBP9.11 million.
As a result of these acquisitions and the previously announced disposal of a property in Lugano, Switzerland, Industrials REIT's multi-let portfolio now accounts for 95% of total assets. Early last month, Industrials REIT acquired Harmony Court in Glasgow, Scotland for GBP5.3 million.
Current stock price: ZAR41.80 in Johannesburg; 198 pence in London
By Artwell Dlamini; artwelldlamini@alliancenews.com
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