Industrials REIT acquires £17m worth of new assets
The company, which is targeting £100m in new acquisitions, says it is on track to owning a portfolio of exclusively multi-let industrial property by the end of March
UK-based multi-let industrial (MLI), listed property company Industrials REIT (formerly Stenprop), has acquired Beacon Business Park in Caldicot and three units at Belmont Industrial Estate in Durham for £17.01m. This forms part of its goal of making its portfolio exclusively industrial by March.
The acquisition reflects a blended net initial yield of 5.8%, an average capital value of £98 per square foot...