Picture: ISTOCK
Picture: ISTOCK

Atlantic Leaf Properties Limited, which recently moved to the main board of the JSE, has acquired an office property based in the Peterborough Business Park, in the UK’s East Midlands, from SPCP Group III, in a deal worth £22.9m.

The company has said it is set to achieve its earnings forecast and a full-year distribution of 8.5 British pence per share for its 2017 February financial year-end.

The acquisition of the property was "consistent with Atlantic Leaf’s strategy of investing in quality investment grade real estate assets which deliver suitable returns for investors through a combination of income and capital growth", the group said.

The property has a combined rental area of 16,501m² and comprises headquarter offices that have recently undergone a major refurbishment.

The £22.9m (R384m) purchase price, in addition to transaction-related costs, would be settled through a combination of cash and debt funding.

It is fully let to Thomas Cook Group UK, a subsidiary of Thomas Cook Group plc, the LSE-listed global travel company, and Bauer Consumer Media, a subsidiary of H Bauer Publishing, which is Europe’s largest privately owned publishing group.

"Peterborough is one of the UK’s fastest-growing cities and the property is located approximately 134km north of London, 60km northwest of Cambridge and 117km east of Birmingham," the company said.

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