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April 25, 2022

Urban Logistics REIT – Property Week

The last mile logistics focused REIT has now deployed £184m since its fundraising last December at a blended net initial yield of 5.4%.

The group paid £40.7m for a logistics asset acquired in the East Midlands. The 72-acre site comprises 175,000 sq ft across four units and three units totalling 665,527 sq ft let to Asfordby Storage and Haulage on a short-term lease, with a remaining unit of 6,773 sq ft let to Royal Mail.

In Lincoln the company paid £4.2m for a logistics asset on Outer Circle Road, Lincoln. The property consists of a 25,924 sq ft unit on a 2-acre site, and is let to Wickes Building Supplies.

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