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March 28, 2022

Urban Logistics REIT – Property Week

The deal represents a blended net initial yield of 4.6%.

The deals include the group’s first central London property, purchased for £28m at a net initial yield of 4.2%. The company has bought a 94,841 sq ft last mile automotive logistics, servicing and sales centre in Battersea, London, let to Lookers Motor Group until July 2041.

Urban Logistics latest acquisitions bring the total capital deployed since the group’s December fundraise to £140m.

The deals also include the £40m acquisition two distribution warehouse in Goole, Yorkshire, as well as a 31,187 sq ft warehouse on Fairview Industrial Estate in North Warwickshire, which was bought for £3.65m.

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