14 May 2014
Custodian REIT plc makes its first acquisition since London Stock Exchange flotation
Custodian REIT plc has acquired a unit on Willowbridge Way industrial estate in Castleford, Yorkshire for £1.6 million.
The 25,223 sq ft unit is the first acquisition for Custodian REIT plc since its flotation on the London Stock Exchange in March this year.
“This acquisition is the start of what we have in the pipeline for Custodian REIT plc. We believe that this acquisition and future procurements will strengthen our industrial and distribution portfolio whilst supporting target returns and our overall investment strategy.”
The property is let to Bunzl UK with an unexpired lease term of nine years and five months. The property has a passing rent of £125,000 per annum, which reflects a net initial yield of 7.5 per cent.
For more information on other properties, please visit Custodian REIT plc’s portfolio.
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