Schroder Eur Real Est Inv Trust PLC Completion of acquisition (9711W)
07 August 2018 - 4:00PM
UK Regulatory
TIDMSERE
RNS Number : 9711W
Schroder Eur Real Est Inv Trust PLC
07 August 2018
7 August 2018
Completion of Acquisition
Schroder European Real Estate Investment Trust Plc ("SERE" or
the "Company"), the company investing in European growth cities,
has completed the purchase of a freehold logistics property in
Rumilly, France for EUR8.6 million, as announced on 21 June
2018.
The 16,700 sqm warehouse was acquired off a net initial yield of
7% and is fully let to a strong covenant, a subsidiary of the
global food and drink manufacturer Nestlé, with an unexpired lease
term of c. 7.5 years. In line with the Company's winning centres
strategy, it is located in a region whose economy is forecast to
grow faster than the national average(1) and is leased off
affordable / sustainable rents, in an area where there is limited
supply.
(1) Oxford Economics 2018
Enquiries:
Duncan Owen/Jeff O'Dwyer
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Ria Vavakis
Schroder Investment Management Limited Tel: 020 7658 2371
Dido Laurimore/Richard Gotla/Methuselah Tanyanyiwa Tel: 020 3727 1000
FTI Consulting
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQZQLFBVVFEBBD
(END) Dow Jones Newswires
August 07, 2018 02:00 ET (06:00 GMT)
Schroder European Real E... (LSE:SERE)
Historical Stock Chart
From May 2024 to Jun 2024
Schroder European Real E... (LSE:SERE)
Historical Stock Chart
From Jun 2023 to Jun 2024