StockMarketWire.com - Regional REIT said it had exchanged contracts to acquire a portfolio of four office assets for a combined £27.7m from a UK institutional vendor, with completion expected by the end of October.
The portfolio comprised multi-let offices located in Redhill, Harefield, Bristol and High Wycombe.
They totalled about 131,036 square feet and were expected to provide a net income of about £2.6m per annum from 24 tenants; equating to a net initial yield of 8.7% and anticipated reversionary yield of 9.7%.
The portfolio's weighted average unexpired lease term was 3.1 years and 5.4 years to expiry.
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.