Warehouse REIT acquires cargo centre at Glasgow Airport for £11.1m

Writer, Stock Market Wire
Monday, February 4, 2019 - 07:30

Warehouse REIT said it had exchanged contracts to acquire Air Cargo Centre at Glasgow International Airport from Airport Industrial Nominees for £11.1m.

The purchase price represented a net initial yield of 6.7% and a reversionary yield in excess of 7%, the company said

The property was held by way of a ground lease from Glasgow Airport, which expires in 2148.

Current occupiers included Nippon Express PJH Group and and Alpha LSG.

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