Warehouse REIT has added a £62m (€72.2m) multi-let industrial estate in the UK to its portfolio.

The listed company said it has agreed to buy the 335,000sqft Bradwell Abbey Industrial Estate in Milton Keynes.

The 69-unit asset is currently 96% leased to a range of occupiers.

Andrew Bird, managing director of the investment advisor, Tilstone Partners, said: “This acquisition, provides Warehouse REIT with clear opportunities to generate upside through strategic capital expenditure and working with the existing occupiers.

“We intend to refurbish units as they become available, improving the estate’s sustainability credentials, enabling us to capture new rental levels which will help drive future rents across the estate and strengthen the covenant profile.”

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