StockMarketWire.com - Regional real-estate investment specialists Regional REIT Limited said it had sold its Sheffield office building for £8.8m, reflecting net yield of 6.6% and an increase of 24.8% compared with its December 2018 valuation.

Aspect Court was purchased in 2016 for £6.3m, following which various asset management initiatives were undertaken, increasing the length of leases and rental income.

The total rental income for the property had increased to £620,000, representing an uplift of some 18% from acquisition.

"The company has a very substantial pipeline of potential acquisitions and we have already identified and agreed terms to recycle the capital achieved from this sale," said Stephen Inglis, Chief Executive Officer of London & Scottish Property Investment Management, the Asset Manager who sold the building on behalf of Regional REIT.








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