We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aew Uk Long Lease Reit Plc | LSE:AEWL | London | Ordinary Share | GB00BDVK7088 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 72.50 | 72.00 | 73.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAEWL
RNS Number : 9040P
AEW UK Long Lease REIT PLC
06 September 2017
6 September 2017
AEW UK Long Lease REIT plc completes first acquisition for GBP6.3m
AEW UK Long Lease REIT plc ("the Company") is pleased to announce the acquisition of a hotel and retail unit on Princes Street, Swindon for GBP6.3m. The 35,000 sq ft property, which comprises a Travelodge hotel and Salvation Army centre, provides a weighted average unexpired lease term of 23 years, with a net initial yield of 5.5%. The lease to Travelodge delivers 95% of the income received from the asset and provides the Company with 5 yearly rental uplifts linked to RPI. This is the Company's first acquisition since listing in June 2017.
The Company has also exchanged contracts to acquire the leasehold interest in the Wet 'n' Wild Water Park in Royal Quays, Newcastle-upon-Tyne for GBP2.9m. The property comprises a purpose built indoor water park totalling 37,131 sq ft and is let to Serco Leisure Operating Ltd, a wholly owned subsidiary of Serco Plc, for an unexpired term of 22 years with annual rental uplifts linked to RPI. The acquisition reflects a net initial yield of 6.1%. Completion of this acquisition is expected to follow within the next few weeks once assignment of the head lease has been approved.
Alex Short, Director of AEW UK Investment Management LLP, and Portfolio Manager of the Company said: "We are delighted to have secured our first acquisition and exchanged on a second asset. Both properties reflect our commitment to investing in sectors that are often underrepresented in institutional portfolios. The property pipeline is looking positive and we will continue to pursue attractive opportunities that are aligned with our rigorous investment approach."
AEW UK Long Lease REIT plc raised GBP80.5m from institutional and retail investors at its IPO in June and at that time it stated its expectation to substantially invest the net proceeds within nine months of listing. The Company is targeting an annual dividend of 5.5 pence per share paid quarterly, once fully invested and levered, with an ambition to grow in line with UK inflation thereafter.
AEW UK
Alex Short alex.short@aeweurope.com +44(0) 207 016 4880 Laura Elkin laura.elkin@aeweurope.com +44(0) 207 016 4869 Nicki Gladstone nicki.gladstone-ext@aeweurope.com +44(0) 771 140 1021 Company Secretary Capita Company Secretarial aewl-cosec@capita.co.uk Services Limited +44(0) 139 247 7509 Temple Bar Advisory +44(0) 207 002 1510 Ed Orlebar +44(0) 7738 724 630 Tom Allison +44(0) 7789 998 020 Alycia MacAskill +44(0) 7876 222 703
About AEW UK Long Lease REIT
AEW UK Long Lease REIT plc (LSE: AEWL) aims to generate a sustainable, secure and predictable income return, whilst at least maintaining capital values in real terms, by investing in a diversified portfolio of UK properties, with an attractive entry yield, predominately in alternative and specialist sectors. It will invest in a diverse range of sectors that are underrepresented in institutional portfolios including leisure, healthcare, education, hotels, student accommodation, supported living and automotive. At its IPO on June 6 2017, AEWL raised GBP80.5m from institutional and retail investors. At least 85% of the portfolio's leases will contain inflation-linked rent reviews, and average initial unexpired leases in excess of 18 years.
About AEW UK Investment Management LLP
AEW UK Investment Management LLP employs a well-resourced team comprising 25 individuals covering investment, asset management, operations and strategy. It is part of AEW Global, one of the world's largest real estate managers, with EUR60.1 billion of assets under management as at 31 December 2016. AEW Global comprises AEW Europe SA and AEW Capital Management L.P., a U.S. registered investment manager. In Europe, as at 31 December 2016, AEW Global managed EUR26.0 billion in value in properties of all types located in 14 countries, with over 380 staff. The Investment Manager is a 50:50 joint venture between the principals of the Investment Manager and AEW Europe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAKNSELXXEFF
(END) Dow Jones Newswires
September 06, 2017 02:00 ET (06:00 GMT)
1 Year Aew Uk Long Lease Reit Chart |
1 Month Aew Uk Long Lease Reit Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions