- Property investor Urban Logistics REIT said it could potentially raise equity to help fund an acquisitions pipeline estimated to be worth around £389m.

The pipeline comprised 33 assets with a weighted unexpired lease term of about 6.7 years and a current rent roll of about £26.7m per annum.

'The company believes that the net proceeds of a potential fundraise would be substantially invested within a three-month period following completion,' Urban Logistics REIT said.

Any fundraising would be conditional on shareholders passing resolutions necessary to authorise the fundraising.

'The pipeline assets referred to are subject to ongoing negotiation and due diligence and no contractually binding obligations have been entered into,' Urban Logistics REIT said.

'There can be no assurance that the company will complete the acquisition of any of the pipeline properties on the expected terms or at all.'

At 9:55am: [LON:SHED] Urban Logistics REIT Plc share price was -1p at 145.5p

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