Business
Acquisition of Railway Station Retail Park
Acquisition of Railway Station Retail Park.
About this update from Aew Uk Reit Plc
[{"type":"text","content":"\n \n \n 10 June 2022\n \n \n \n \n \n \n \n \n AEW UK REIT Plc\n \n \n \n \n \n \n \n \n \n Acquisition of Railway Station Retail Park, Dewsbury\n \n \n \n \n \n \n \n \n \n AEW UK REIT plc (LSE: AEWU) (\"AEWU\" or the \"Company\") is pleased to announce the acquisition of the 6.04 acre Railway Station Retail Park in Dewsbury for a price of £4,700,000. The purchase price reflects a low capital value of only £82 per sq ft and provides an attractive net initial yield of 9.4%.\n \n \n The park is fully let with a low average passing rent of £8.28 per sq ft, which the Investment Manager believes provides strong potential for rental growth. Tenants include Sports Direct, Mecca Bingo, Fieldrose Ltd, trading as KFC, and the Danish furniture retailer, Jysk.\n \n \n The park occupies a prominent location on the edge of the town centre within an established retail and leisure area. Neighbouring occupiers include Sainsburys, Aldi, Matalan, Pets at Home and Iceland as well as a council operated library and sports facility. Dewsbury has a tight supply of retail warehousing stock, with no current vacancies within the town.\n \n \n \n \n \n \n \n \n Commenting on the sale, Laura Elkin, Portfolio Manager of AEW UK REIT said,\n \n \"\n \n This latest acquisition supports our view that the current market continues to provide investment opportunities that deliver dividend accretive income streams while also providing future potential for capital growth. Our work undertaken on the tenants of the park has shown that they trade well from the location and we expect an attractive level of income to be sustained\".\n \n \n \n \n \n \n \n ENDS\n \n \n \n \n \n \n \n \n \n \n \n Enquiries\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n AEW UK\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Laura Elkin\n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n +44(0) 7917 058 337\n \n \n \n \n \n \n Henry Butt\n \n \n \n \n \n h\n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n +44(0) 7920 499 076\n \n \n \n \n \n \n Nicki Gladstone\n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n +44(0) 7711 401 021\n \n \n \n \n \n \n \n Company Secretary\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Link Company Matters Limited\n \n ...