- Warehouse REIT said it had acquired an eight-asset fully-let portfolio of reversionary warehouse and distribution assets from Aviva Investors for an initial £70m.

The assets produced an annual rent of £5.4m, and the purchase price reflected a net initial yield of just over 7%.

An additional deferred payment of up to £5m was due on or before September 2023.

The portfolio comprised one multi-let and seven single let warehouses providing a total floor area of 995,106 square feet, with individual units ranging from around 50,000 to 217,000 square feet.

The occupiers included Iron Mountain, Direct Wines, the Sytner Group and Amazon.

Story provided by