Urban Logistics Regulatory News (SHED)

28th March 2022

Urban Logistics REIT plc

("Urban Logistics" or the "Company")

Acquisitions Update

Urban Logistics (LON: SHED), the last mile logistics focussed REIT, has acquired approximately £72 million of income producing assets at a blended NIY of 4.6%, with significant asset management potential.

Key points

· £72 million of logistics assets acquired since the February 2022 trading update at a blended NIY of 4.6%

· 4 transactions completed, including our first central London property, purchased for £28 million at a NIY of 4.2%, and other assets strategically located in existing and emerging logistics hubs across the UK

· All transactions are income producing immediately, and benefit from strong covenants

· In aggregate £140 million of capital has been deployed or committed since the December 2021 fund raise, at a blended NIY of 5.0%

Richard Moffitt, Chief Executive, commented:

"It has been a busy few weeks at Urban Logistics, as we continue to deploy the proceeds from our December 2021 fundraising, on assets with significant scope for shareholder value creation.

"We are pleased to acquire our first property in central London,on a long lease at 4.2% NIY and with an excellent tenant in place. We think of this as a very exciting opportunity with significant reversion and suitable for a number of last mile solutions.

"These acquisitions represent a step forward as we work through our extensive pipeline, with further high yielding assets to come. We remain focused on well let, strategically positioned assets, in existing and emerging logistics hubs.

"Our recent inclusion in the FTSE 250 index underlines our position as a leading player in this market sector, and our reputation as a reliable and nimble counterparty for sellers is enabling us to access off-market transactions at very competitive prices. We expect this flow of acquisitions to continue and expect to make further acquisitions in the near term, with acquisitions in solicitors hands bringing our expected blended NIY on capital deployed since the December fund raise to circa 5.4%."

Acquisitions

York Road, London

A 94,841 sq. ft. last mile automotive logistics, servicing and sales centre in Battersea, London. The purchase price was £28,000,000 at a NIY of 4.2%. The unit is let to Lookers Motor Group Ltd until July 2041.

Howden Dyke Road, Yorkshire

A 287,589 sq. ft. distribution warehouse in the port town of Goole, Yorkshire. The purchase price was £24,000,000 at a NIY of 5.3%. The unit is let to E-Buyer (UK) Ltd until October 2036.

Howden Dyke Road, Yorkshire

A 155,205 sq. ft. distribution warehouse in Goole, Yorkshire. The purchase price was £16,000,000 at a NIY of 4.3%. The unit is let to Wren Kitchens until October 2036.

Kingsbury Road, North Warwickshire

A 31,187 sq. ft. warehouse on Fairview Industrial Estate, in Curdworth, North Warwickshire. The purchase price was £3,650,000 at a NIY of 4.3%. The unit is let to Personnel Hygiene Solutions until July 2027.

- Ends -

About Urban Logistics REIT

Urban Logistics REIT plc (LON: SHED) is a FTSE 250 property investment company. The Company is the only London-listed REIT to focus on specialist last mile / last touch logistics assets, with a tenant base which delivers essential goods within the UK. The Company's strategy is to invest in mid-sized logistics properties with the objective of generating attractive dividends and capital returns through active asset management.

Urban Logistics' investment management team, led by Richard Moffitt and Christopher Turner, has over 50 years' experience in investing in the logistics market within the broader real estate market. The team's ability to source vital and strategically located mid-sized single let properties, with high-quality tenants, off-market at favourable terms, creates considerable value for shareholders. Tenants include Amazon, XPO, DHL, Hermes, DPD, Boots, Unipart (for NHS) and J Sainsbury Plc.

Buying well and pursuing additional value enhancing asset management initiatives has driven the Company's growth, enabling Urban Logistics to grow from a £10m market cap company at IPO in April 2016 to over £800m at present.