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AEW UK REIT PLC (AEWU)

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Thursday 18 January, 2018

AEW UK REIT PLC

AEW UK REIT acquires Corby site for £12.4m

RNS Number : 1961C
AEW UK REIT PLC
18 January 2018
 

18 January 2018

AEW UK REIT acquires Corby site for £12.4m

AEW UK REIT plc ("the Company"), which directly owns a diversified portfolio of regional UK commercial property assets, is pleased to announce that it has unconditionally exchanged on the acquisition of 2 Geddington Road, Corby for £12.4m. Completion of the acquisition will take place on the 19 February 2018.

The asset provides an attractive net initial yield of 10% and is fully let to GEFCO UK Ltd, a wholly owned subsidiary of GEFCO SA, a global provider of logistics services to manufacturers, with 3.75 years to expiry. The property comprises a secure fenced site along with a modern industrial property extending to 52,000 sq. ft. and is used by the tenant for the storage and inspection of vehicles.

A mix of commercial and residential properties surround the area, including the Eurohub logistics park and a 250-acre development site currently being prepared by Frogmore and Mulberry Developments.

Alex Short, Portfolio Manager, AEW UK REIT, commented: "We are pleased to announce this latest acquisition which provides an attractive level of income for the Company. In the longer term we believe that the site provides good potential for us to add value due to the adjoining uses being both logistics warehousing and residential.  In addition, Corby Borough Council have proposed to double the area's population by 2030."

ENDS

About AEW UK REIT  

AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return to shareholders by investing predominantly in smaller commercial properties (typically less than £10 million), on shorter occupational leases in strong commercial locations across the United Kingdom. The Company was listed on the Official List of the UK Listing Authority and admitted to trading on the Main Market of the London Stock Exchange on 12 May 2015.

The Company is currently invested in office, retail, industrial and leisure assets with a focus on active asset management, repositioning the properties and improving the quality of the income stream. 

AEWU is currently paying an annualised dividend of 8p per share. 

www.aewukreit.com

About AEW UK Investment Management LLP

The Investment Manager AEW UK Investment Management LLP is a 50:50 joint venture between the principals of the Investment Manager and AEW. It employs a well-resourced team comprising 25 individuals covering investment, asset management, operations and strategy. It is part of AEW Group, one of the world's largest real estate managers, with €57 billion of assets under management as at 30 September 2017. AEW Group comprises AEW SA and AEW Capital Management L.P., a U.S. registered investment manager and their respective subsidiaries. In Europe, as at 30 September 2017, AEW Group managed €26.6 billion in value in properties of all types located in 15 countries, with close to 400 staff.

www.aewuk.co.uk

 

AEW UK Enquiries:

Alex Short

[email protected]

 

 

Laura Elkin

+44(0) 207 016 4880

 

[email protected]

 

 

Nicki Gladstone

+44(0) 207 016 4869

 

[email protected]

 

+44(0) 771 140 1021

 

Company Secretary

 

Link Company Matters Limited

[email protected]

+44 (0)20 7954 9547

 

TB Cardew

Ed Orlebar

Tom Allison

Lucy Featherstone        

+44(0) 207 930 0777

+44(0) 7738 724 630

+44(0) 7789 998 020

+44(0) 7789 374 663

 

 

About AEW Europe

AEW is one of the world's largest real estate asset managers, with over €57bn of assets under management as at 30 September 2017. AEW has over 600 employees, with its main offices located in Boston, London, Paris and Hong Kong and offers a wide range of real estate investment products including comingled funds, separate accounts and securities mandates across the full spectrum of investment strategies. AEW represents the real estate asset management platform of Natixis Investment Managers, one of the largest asset managers in the world.

As at 30 September 2017, AEW managed €26.6bn of real estate assets in Europe on behalf of a number of funds and separate accounts. AEW has close to 400 employees based in 10 offices across Europe and has a long track record of successfully implementing core, value-add and opportunistic investment strategies on behalf of its clients. In the last five years, AEW has invested and divested a total volume of over €17.5bn of real estate across European markets.

www.aeweurope.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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