Regional REIT to acquire four office assets for a combined £27.7m

Writer, Stock Market Wire
Friday, October 18, 2019 - 07:26

Regional REIT said it had exchanged contracts to acquire a portfolio of four office assets for a combined £27.7m from a UK institutional vendor, with completion expected by the end of October.

The portfolio comprised multi-let offices located in Redhill, Harefield, Bristol and High Wycombe.

They totalled about 131,036 square feet and were expected to provide a net income of about £2.6m per annum from 24 tenants; equating to a net initial yield of 8.7% and anticipated reversionary yield of 9.7%.

The portfolio's weighted average unexpired lease term was 3.1 years and 5.4 years to expiry.


Related content

Regional REIT inks lease deals ahead of expected rental value

Regional REIT said it had signed a series of lease deals around 19% ahead of expected rental value, amounting to about £0.64m a year.

The...

Fri, 08/11/2019 - 09:38


Negative yields have forced investors to explore ‘alternative assets’

Author: 

It is little wonder that interest in ‘alternative assets’ has exploded.

We live in a world of negative interest rates, where $17tn of bonds including...

Thu, 31/10/2019 - 00:00


Regional REIT secures lettings ahead of expected rental value

Regional property investor Regional REIT said it had secured lettings across its portfolio around 10.9% ahead of their average expected rental value.

The lettings were...

Wed, 09/10/2019 - 08:09


Why we are still backing Regional REIT

Author: 

Regional REIT (RGL) 101.8p

Loss to date: 5.4%

Original entry price: Buy at 107.6p, 4 Jul 2019


The...

Thu, 19/09/2019 - 00:00


Regional REIT acquires six UK offices for £25.9m

Regional REIT said it had acquired a portfolio of six UK office assets for a combined £25.9m.

The offices were located in Birmingham, Bristol, Cardiff,...

Wed, 21/08/2019 - 07:04