Urban Logistics Regulatory News (SHED)

Urban Logistics REIT plc

("Urban Logistics" or the "Company")

Acquisitions and Notice of Interim Results

Urban Logistics, (AIM: SHED) the specialist UK logistics REIT, announces the acquisition of five high-quality logistics assets for a total consideration of £33.1 million at a blended 6.4% NIY in Ripon, Braintree, Oxford, Exeter and Warrington. These urban logistics sites support a diverse customer base.

Richard Moffitt, Chief Executive, commented:

"These acquisitions were sourced off-market and are in line with our strategy of focusing on well-located logistics properties that supply essential products and consumer goods.

"Following the successful completion of our recent fundraising, we will now work to conclude the acquisition of further logistics properties from our established pipeline, enabling the rapid deployment of new funds into high-quality income-generating assets. With greater scale, we are confident that we can continue to deliver attractive shareholder returns."

The Acquisitions

Ripon

On 5 October 2020, the Company acquired a well-specified 43,881 sq ft distribution unit for £2.9 million from Xpediator plc at a 6.25% NIY. Nidd Transport, a third-party logistics operator recently acquired by Xpediator plc, has taken a 15-year lease as part of a sale and leaseback arrangement. The rent is £4.56 per sq ft and there is a five-yearly rent review linked to RPI with a cap and collar (2% - 4%). The unit is located on the Barker Business Park which is a well-established location adjacent to the A1(M).

Braintree

On 30 October 2020, the Company acquired a modern distribution warehouse, which is subdivided into two units, for £11.2 million at a 5.25% NIY. The units are let to Delamode Group, also part of Xpediator plc, who are a freight and logistics provider. The two storey warehouse is let at £7.99 per sq ft through to 2025 and there is a rent review due in December 2020. The site is prominently located close to the A120.

Oxford

On 4 November 2020, the Company acquired a high quality, automated 71,384 sq ft distribution warehouse for £9.1 million at a 6.6% NIY. The unit is let to Ceva Logistics who distribute sports apparel from this site for a leading global brand. The site is let at £8.41 per sq ft through to 2025 and there is an outstanding RPI-linked rent review. The site serves as a national distribution hub and is prominently located close to the A40.

Exeter

On 6 November 2020, the Company acquired a unit in Exeter which is let to Giant Booker for £5.1 million at a 8.0% NIY. It is located close to the M5 and is let until February 2030. The rent is £4.87 per sq ft and there is a rent review in 2025 to the higher of open market or 2.5% compound per annum.

Warrington

On 6 November 2020, the Company acquired a warehouse in Warrington which is let to CDS (Superstores International) Limited, who trade as The Range, for £4.8 million at a 7.4% NIY. The site is let until December 2032 and the rent is £4.43 per sq ft. The rent increases at 2% compound per annum. The site is located close to the M62.

Interim Results

The Company will announce its results for the interim period ended 30 September 2020 on Thursday 12 November 2020.

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About Urban Logistics REIT

Urban Logistics REIT plc is a property investment company, quoted on the AIM market of the London Stock Exchange, (AIM: SHED).

The Company has been established to invest in UK-based logistics properties with the objective of generating attractive dividends and capital returns for its shareholders. Its investment strategy focuses on strategically located smaller single let properties servicing high-quality tenants. Investment returns will be generated by an experienced management team focusing on quality stock selection and active asset management.

A number of structural and commercial factors currently support the attractive opportunity in the last mile/regional industrial and logistics real estate sub-sectors targeted by the Company, including: strong occupier demand, (driven by the growth of e-commerce and investment by retailers in their associated supply chain) and a decline in the supply of smaller sized lettable space in industrial and logistics real estate across the UK.