Business
Sale of two industrial assets for £16.7 million
Sale of two industrial assets for £16.7 million.
About this update from Aew Uk Reit Plc
[{"type":"text","content":"\n \n\n\nAEW UK REIT plc (AEWU)\n\n\n\nAEW UK REIT plc: Sale of two industrial assets for £16.7 million23-Aug-2021 / 09:51 GMT/BSTDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n\n23 August 2021\n\nAEW UK REIT plc\n\nSale of two industrial assets for £16.7 million\n\n \n\nAEW UK REIT plc (\"AEWU\" or \"the Company\") is pleased to announce that it has sold two industrial assets, Units 16 & 16A, Langthwaite Industrial Estate in South Kirkby and Wella Warehouse in Basingstoke for a total of £16.7 million. \n\n \n\nThe sale of South Kirkby completed on Friday 20th August, whilst Basingstoke has exchanged with completion subject to freeholder consent.\n\n \n\nThe sites are single let, totalling 278,428 sq ft in size, and are situated in strong regional locations. The combined rental income of the two properties is £1,177,087 pa. Both sales will deliver significant profit by exceeding their most recent valuations and the prices AEWU paid at acquisition. \n\n \n\nCommenting on the sales, Alex Short, Portfolio Manager of AEW UK REIT said, \"The two assets in South Kirkby and Basingstoke have performed well and delivered excellent returns to AEWU shareholders over the last few years, as AEWU has enjoyed the benefits of an overall heavy weighting towards the industrial sector. The value of the properties has climbed significantly, and we believe now is the time to realise this profit and reinvest the proceeds into new exciting opportunities that we are seeing in the market.\"\n\n \n\nFor further information, please contact:\n\n \n\n\n AEW UK\n \n \n \n \n \n Alex Short\n \n \n [email protected]\n \n \n \n \n \n +44(0) 20 7016 4848\n \n \n Nicki Gladstone\n \n \n [email protected]\n \n \n \n \n \n +44(0) 7711 401 021\n \n \n Company Secretary\n \n \n [email protected]\n \n \n Link Company Matters Limited\n \n \n +44(0) 1392 477 500\n \n \n \n \n \n \n \n \n TB Cardew\n \n \n [email protected]\n \n \n Ed Orlebar\n \n \n +44 (0) 7738 724 630\n \n \n Tania Wild\n \n \n +44 (0) 7425 536 903\n \n \n Lucas Bramwell\n \n \n +44 (0) 7939 694 437\n \n \n \n \n \n \n \n \n Liberum Capital\n \n \n \n \n \n Darren Vickers / Ow...