Termination of acquisition discussions

RNS Number : 9123Z

Warehouse REIT PLC

06 September 2018

 

6 September 2018

Warehouse REIT plc

(the 'Company' or 'Warehouse REIT')

Termination of acquisition discussions

Further to its announcement on 26 July 2018 concerning discussions about a potential acquisition of a portfolio of industrial property assets located in the UK from Hansteen Holdings plc (LSE: HSTN), Warehouse REIT (LSE: WHR) announces that the parties have been unable to agree terms and consequently the discussions have been terminated.

As a result of the Company not proceeding with the transaction, trading in Warehouse REIT's shares on AIM is expected to be restored today.

-ENDS-

Enquiries:

Warehouse REIT plc                                                                                               via FTI Consulting

Tilstone Partners Limited   Andrew Bird, Paul Makin	[phone]
G10 Capital Limited (part of the Lawson Conner Group),   acting as AIFM   Agnese Soldane, Gerhard Grueter	[phone]
Peel Hunt (Financial Adviser, Nominated Adviser and Broker) Capel Irwin, Carl Gough, Harry Nicholas	[phone]
FTI Consulting (Financial PR & IR Adviser to the Company) Dido Laurimore, Ellie Sweeney, Richard Gotla	[phone]

Further information on Warehouse REIT is available on its website:

http://www.warehousereit.co.uk/

Notes to editors:             

Warehouse REIT announced the results of its IPO on 15 September, having raised gross proceeds of £150 million (£146.8 million net) to invest in a diversified portfolio of UK warehouse assets located in urban areas.  As at 31^st March 2018 the Warehouse REIT has fully invested the IPO proceeds with the entire portfolio valued at £291m. 

Occupier demand for urban warehouse space remains strong as the structural change in the retail sector reduces the demand for high street stores in favour of the continuing growth in e-commerce and investment by retailers in the associated "last mile" delivery sector.

The Company is an alternative investment fund ("AIF") for the purposes of the AIFM Directive and as such is required to have an investment manager who is duly authorised to undertake the role of an alternative investment fund manager. The Investment Manager is currently G10 Capital Limited, whose role will pass to Tilstone Partners Limited ("TPL"), on receipt of FCA approval. 

 

END

 

 

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