Yew Grove REIT acquires Irish office block for €4m

Irish property investor Yew Grove REIT said it had exchanged contracts to acquire an office block in the IDA Waterford Business and Technology Park in Butlerstown, Waterford for €4m.

The transaction represented a net initial yield of 8.56%, after accounting for all purchase costs, the company said.

The Waterford building was tenanted by Tech Mahindra Business Service under a 20 year lease with a break in five years, and SE2 Information Services Ireland under a five year lease.

At 1:22pm: (LON:YEW) Yew Grove Reit Plc Ord Shs Eur0.01 share price was 0p at 1.02p