Urban Logistics REIT PLC - UK logistics real estate investment trust - Reports the acquisition of two assets for GBP21.7 million. One of the assets is a 110,859 square feet distribution unit in Warrington, bought for GBP8.5 million. It is let to Mark Thompson Transport, part of Kinaxia Logistics, for a term of ten years through to 2030. The rent is GBP4.94 per square feet. The second asset is in Milton Link, Edinburgh. The seven-acre site comprises a 75,478 square feet warehouse, and a "drive-through" of 1,845 square feet let to Costa Coffee. The asset is to be purchased for GBP13.2 million. The rent for the warehouse is GBP10.51 per square feet and is let through to 2033 with five yearly rent reviews. The "drive-through" rent is GBP40.65 per square feet and the building is let through to 2034.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Urban Logistics (SHED)