Business
AEW UK REIT acquires Corby site for £12.4m
AEW UK REIT acquires Corby site for £12.4m.
About this update from Aew Uk Reit Plc
[{"type":"text","content":"\n \nRNS Number : 1961C AEW UK REIT PLC 18 January 2018 \n\n18 January 2018 \nAEW UK REIT acquires Corby site for £12.4m\nAEW UK REIT plc (\"the Company\"), which directly owns a diversified portfolio of regional UK commercial property assets, is pleased to announce that it has unconditionally exchanged on the acquisition of 2 Geddington Road, Corby for £12.4m. Completion of the acquisition will take place on the 19 February 2018.\nThe asset provides an attractive net initial yield of 10% and is fully let to GEFCO UK Ltd, a wholly owned subsidiary of GEFCO SA, a global provider of logistics services to manufacturers, with 3.75 years to expiry. The property comprises a secure fenced site along with a modern industrial property extending to 52,000 sq. ft. and is used by the tenant for the storage and inspection of vehicles. \nA mix of commercial and residential properties surround the area, including the Eurohub logistics park and a 250-acre development site currently being prepared by Frogmore and Mulberry Developments. \nAlex Short, Portfolio Manager, AEW UK REIT, commented: \"We are pleased to announce this latest acquisition which provides an attractive level of income for the Company. In the longer term we believe that the site provides good potential for us to add value due to the adjoining uses being both logistics warehousing and residential. In addition, Corby Borough Council have proposed to double the area's population by 2030.\"\nENDS\nAbout AEW UK REIT \nAEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return to shareholders by investing predominantly in smaller commercial properties (typically less than £10 million), on shorter occupational leases in strong commercial locations across the United Kingdom. The Company was listed on the Official List of the UK Listing Authority and admitted to trading on the Main Market of the London Stock Exchange on 12 May 2015. \nThe Company is currently invested in office, retail, industrial and leisure assets with a focus on active asset management, repositioning the properties and improving the quality of the income stream. \nAEWU is currently paying an annualised dividend of 8p per share. \nwww.aewukreit.com \nAbout AEW UK Investment Management LLP \nThe Investment Manager AEW UK Investment Management LLP is a 50:50 joint venture...