Acquisition

RNS Number : 9562Z

Schroder Eur Real Est Inv Trust PLC

02 June 2016

 

2 June 2016

ACQUISITION - Completion of the purchase of the convenience retail property located in Frankfurt am Main, Germany

Further to the announcement on 28 April 2016, the Board of Schroder European Real Estate Investment Trust plc (the "Company") confirms completion of the purchase of the convenience retail property located in Rodelheim (Frankfurt) at a purchase price of €11.05 million reflecting a net initial yield of 5.6%. The investment is well located in a growing inner urban area of Frankfurt am Main and is anchored by a 1,600 sqm Lidl supermarket with an initial lease term exceeding 10 years.

The Company now owns a portfolio of five investments in its key target markets of France and Germany and continues to pursue negotiations on a number of other potential transactions.

Enquiries:

Duncan Owen/Tony Smedley

Schroder Real Estate Investment Management Limited                    Tel: [phone]

Ria Vavakis

Schroder Investment Management Limited                                        Tel: [phone]

 

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