- AEW UK Long Lease REIT has completed the acquisition of 212 Wandsworth Road, London for £4.4m.

The group said the the property, which was fully let to Pure Gym at a low passing rent of £11.60 per sq ft, provided an unexpired lease term of 10.2 years to break and 15.1 years to expiry, with five yearly RPI linked reviews.

It said the acquisition price reflected a net initial yield of 5.1%.

The 19,900 sq ft property, constructed in 2012, is near the new Nine Elms Northern Line London Underground station which is planned to open in 2020.

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