- Warehouse property investor Warehouse REIT said it had acquired four new properties and completed 20 new lettings since 25 May.

The new properties were acquired for a combined £13.1 million, reflecting a blended net initial yield of 5.0%, and generated £0.7 million per annum of contracted rent.

Warehouse REIT said the purchases brought its portfolio past 8.5 million square feet and increased its holdings in South Cambridge and Midpoint-18, Cheshire.

The 20 new lettings were achieved at 7.0% ahead of 31 March 2021 estimated rental values.

The portfolio's total occupancy decreased slightly to 94.2%, from 95.6%, however effective vacancy has reduced to just 2.0%, excluding units under refurbishment or under offer to let.

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