Urban Logistics, the specialist UK logistics REIT (Real Estate Investment Trust), has announced the acquisition of a high-quality, automated 71,384 sq ft Oxfordshire distribution warehouse for £9.1 million.
The unit is currently let to Ceva Logistics who distribute sports apparel from this site for a leading global brand. The site is let at £8.41 per sq ft through to 2025 and there is an outstanding RPI-linked rent review. The site serves as a national distribution hub and is prominently located close to the A40.
Richard Moffitt, Chief Executive of Urban Logistics, commented saying: “These acquisitions were sourced off-market and are in line with our strategy of focusing on well-located logistics properties that supply essential products and consumer goods.
“Following the successful completion of our recent fundraising, we will now work to conclude the acquisition of further logistics properties from our established pipeline, enabling the rapid deployment of new funds into high-quality income-generating assets. With greater scale, we are confident that we can continue to deliver attractive shareholder returns.”
The acquisition took place on On 4 November 2020.