11 Dec 2018 07:00
Urban Logistics REIT plc
("Urban Logistics" or the "Company")
Leasing announcement
Urban Logistics, the specialist UK industrial and logistics REIT, is pleased to announce that it has successfully leased a 183,883 sq ft warehouse located at Hudson Road, Bedford. The property was acquired vacant on 5 December 2018 and has been leased to Into the Light Enterprises Limited, a provider of storage facilities. The new lease is for 15-years with a rent of £6.00 sq ft with an upward-only rent review every 5 years.
Commenting on the leasing, Richard Moffitt, Chief Executive, said:
"I am extremely pleased with the leasing of this well-located, institutional-grade logistics property such that there was a minimal gap in rental income following acquisition. This underpins the Company's income generation capability and also demonstrates our focused approach to asset management, ensuring a diverse tenant base across our portfolio."
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For further information contact:
Urban Logistics REIT plc Richard Moffitt
| +44 (0)20 7591 1600 |
Montfort - Financial PR and IR adviser Olly Scott Honoria Simpson
|
+44 (0)78 1234 5205 +44 (0)20 3965 6960 |
N+1 Singer - Nominated Adviser and Broker James Maxwell / James Moat (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales)
| +44 (0)20 7496 3000 |
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 industrial and 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 industrial and logistics 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.
Urban Logistics (SHED)