UK real estate investment trust AEW UK REIT (AEWU) has added a mixed-use asset in Bath city centre to its portfolio.

The London-listed commercial property investor said it has purchased the 51,632sqft asset for £11.5m (€13.3m).

The asset is multi-let to five tenants across office and retail accommodation.

AEWU said following this acquisition, the company is close to full deployment, with remaining cash available to invest of around £3m.

Laura Elkin, portfolio manager of AEW UK REIT said: “We are pleased to have purchased this very well-located, mixed-use asset at a day-one yield that will be accretive to the company’s earnings and brings the REIT one step closer to full deployment, with just £3m left to invest.

”Completion of the acquisition continues the strategic reinvestment of capital generated from recent sales into higher-yielding assets in core urban locations.”

To read the latest edition of the latest IPE Real Assets magazine click here.

Topics

Related Companies