Yew Grove REIT PLC Acquisition of land and development of car park
25 October 2018 - 5:00PM
RNS Non-Regulatory
TIDMYEW
Yew Grove REIT PLC
25 October 2018
Yew Grove REIT plc
(the "Company" or "Yew Grove REIT")
Active asset management at IDA Business and Technology Park
Athlone
Acquisition of land and development of car park
Yew Grove REIT plc, which owns a diversified portfolio of Irish
commercial property assets, is pleased to announce as part of the
active asset management programme, it has exchanged contracts to
acquire land from the IDA Ireland adjacent to Yew Grove's advanced
technology building, currently leased to KCI Manufacturing. In
response to demand from its existing tenant, the Company has
contracted the construction of a 70-space car park and signed an
agreement with KCI Manufacturing to lease the additional space. The
investment is expected to total approximately EUR0.5m.
This project is one of a number of Yew Grove's asset management
initiatives to improve the Company's properties and facilitate its
clients expanding and changing requirements.
Commenting on the transaction, Yew Grove CEO Jonathan Laredo
said:
"We are pleased to announce that we will be providing KCI with
increased and enhanced car parking facilities as well as securing
the land required for any future expansion of their facilities. We
believe that an active partnership with our tenants is the most
productive way to help us both grow our businesses."
Enquiries:
Yew Grove REIT plc Tel: +44 203 627 2720
Jonathan Laredo, Chief Executive Officer
Michael Gibbons, Chief Investment Officer
Charles Peach, Chief Financial Officer
Investec Bank plc
NOMAD & Broker: Tel: +44 (0) 20 7597
David Anderson, Darren Vickers 5970
ESM Advisor & Broker: Tel: +353 (1) 421 0000
Tommy Conway, Eoin Kennedy
Hume Brophy Tel: + 353 (1) 662
4712
Media Enquiries yewgrove@humebrophy.com
Edel Bach, Karin O'Conor, Sarah McDonagh
Notes to editors:
Yew Grove REIT raised gross proceeds of approximately EUR75
million in June 2018 to invest in a diversified portfolio of Irish
commercial property, with a particular focus on well-tenanted
commercial real estate assets comprising office and industrial
assets let to Irish government entities (and other state bodies),
IDA Ireland supported and other FDI companies, and larger
corporates, located in a geographic target market.
ENDS
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END
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