AEW UK Long Lease REIT PLC AEW Long Lease buys industrial buildings for £3.9m (8757A)
17 September 2018 - 4:00PM
UK Regulatory
TIDMAEWL
RNS Number : 8757A
AEW UK Long Lease REIT PLC
17 September 2018
AEW UK Long Lease buys industrial buildings in Sittingbourne for
GBP3.9m
AEW UK Long Lease REIT ("the Company") is pleased to announce
that it has purchased two industrial buildings on the Eurolink
Industrial Estate, Sittingbourne for GBP3.9m, reflecting a net
initial yield of 6.3%.
The property comprises two warehouse buildings totalling 43,636
sq ft let to Doré Metals Services Southern Ltd, which has had its
headquarters on the site since 2007. The lease provides a new 15
year term expiring in September 2033 and has 5 yearly RPI linked
rent reviews.
The site is located on the established Eurolink Industrial
Estate in central Sittingbourne, with excellent access to the M2
and M20 and one mile from Sittingbourne station. Other occupiers in
the vicinity include Everest and B+M Steel. The surrounding area
comprises a mix of residential, industrial and commercial uses.
Alex Short, Director of AEW UK Investment Management LLP, and
Portfolio Manager of the Company said: "Demand for industrial
property in the South East makes this a great addition to our
diverse portfolio. Given this strong demand, we think that the
property provides good potential for rental growth over the long
term, both from its inflation linked uplifts and in terms of open
market levels as well."
The Company is targeting an annual dividend of 5.5 pence per
share paid quarterly, with an ambition to grow in line with UK
inflation thereafter.
ENDS
About AEW UK Long Lease REIT
AEW UK Long Lease REIT plc (LSE: AEWL) aims to generate a
sustainable, secure and predictable income return, whilst at least
maintaining capital values in real terms, by investing in a
diversified portfolio of UK properties, with an attractive entry
yield, predominately in alternative and specialist sectors. It will
invest in a diverse range of sectors that are underrepresented in
institutional portfolios including leisure, healthcare, education,
hotels, student accommodation, supported living and automotive. At
its IPO on June 6 2017, AEWL raised GBP80.5m from institutional and
retail investors. At least 85% of the gross passing rent from the
portfolio's leases will contain inflation linked rent reviews, and
average initial unexpired leases in excess of 18 years at the time
of investment.
www.aewukllreit.com
About AEW UK Investment Management LLP
AEW UK Investment Management LLP 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 EUR59.3bn of assets
under management as at 31 March 2018. 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 31
March 2018, AEW Group managed nearly EUR30bn in value in properties
of all types located in 15 countries, with close to 400 staff. The
Investment Manager is a 50:50 joint venture between the principals
of the Investment Manager and AEW.
Enquiries
AEW UK alex.short@eu.aew.com
Alex Short laura.elkin@eu.aew.com
Laura Elkin
Nicki Gladstone Nicki.Gladstone-ext@eu.aew.com
+44(0) 771 140 1021
TB Cardew aew@tbcardew.com
Ed Orlebar +44(0) 7738 724 630
Tom Allison +44(0) 7789 998 020
Lucy Featherstone +44(0) 7789 374 663
About AEW
AEW is one of the world's largest real estate asset managers,
with nearly EUR60bn of assets under management as at 31 March 2018.
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 31 March 2018, AEW managed nearly EUR30bn 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 EUR17.5bn of real estate across
European markets.
www.aeweurope.com
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END
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