Regional REIT Ltd - real estate investment trust focused on UK office and industrial property assets - Completes acquisition of two office properties in Swansea and Bristol for GBP10.2 million. The 68,535 square feet Waterside Business Park asset in Swansea is let to the UK Secretary of State for Communities & Local government and a large legal practice with offices across Wales. It has a current contracted rent of GBP690,000 per annum which reflects a net initial yield of 11.7% and a weighted average unexpired lease term of 4.5 years. The 22,349 square feet two-floor office asset at 2410 Aztec West in Bristol is fully let to Liverpool Victoria Friendly Society Ltd. The current contracted rent of GBP406,000 per annum reflects a net initial yield of 8.2% and a WAULT of 3.6 years.
Current stock price: 65.64 pence
Year-to-date change: down 42%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Regional Reit (RGL)