AEW UK REIT plc: Acquisition of prime retail site in Bristol city centre (1210822)

AEW UK REIT plc (AEWU) 
AEW UK REIT plc: Acquisition of prime retail site in Bristol city centre 
23-Jun-2021 / 08:13 GMT/BST 
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23 June 2021 
 
AEW UK REIT Plc 
 
Acquisition of prime retail site in Bristol city centre 
 
AEW UK REIT plc (LSE: AEWU) (the "Company") is pleased to announce the acquisition of a prime retail site in the heart 
of Bristol city centre for a purchase price of GBP10.19 million, equating to GBP161 per sq ft and reflecting a net initial 
yield of 8%. 
 
15-33 Union Street occupies a prominent location in Bristol city centre, opposite The Galleries Shopping Centre and 
near Cabot Circus, Bristol's premier retail destination. Located on a busy thoroughfare for pedestrians, the 63,125 sq 
ft property experiences high footfall and is ideally suited for retail or leisure use. The location of the site has 
also been identified as a major regeneration area. 
 
Constructed in 2001, the property currently comprises five purpose built split-level retail or leisure units over four 
floors with road access to both Union Street and Fairfax Street. Four of the five units are let to three household 
names and a successful local retailer. The remaining unit is currently vacant, with the vendor providing a 12 month 
rent guarantee. We are currently in discussions with a number of parties who are keen to occupy this space. 
Alex Short, Portfolio Manager, AEW UK REIT, commented: "We are pleased to have acquired this prominent and busy city 
centre property. This is an excellent fit for our portfolio and will immediately contribute to AEWU's income stream. 
The site offers the opportunity to benefit from the major regeneration currently underway in Bristol city centre over 
the long-term. While we have made two recent investments in the retail sector, our overall exposure remains relatively 
low compared to industrial. We continue to take a cautious approach to retail, judging each site on its specific 
merits." 
Following completion of the above purchase, the Company holds c. GBP6.7 million of cash and has available c. GBP4.5 million 
of its debt facility up to the drawdown limit of 35% Loan to NAV. 
The Company's portfolio exposure is broken down by sector as follows: 
Sector        Valuation (as provided by Knight Frank as at 31 March 2021 plus subsequent acquisitions at purchase 
              price) 
              GBP million                                                           % 
Industrial    108.8                                                               55.1 
Retail        39.3                                                                19.9 
Office        36.8                                                                18.6 
Other         12.6                                                                6.4 
Total         197.5                                                               100.0 
Enquiries 
AEW UK 
Alex Short                     [e-mail] 
                               [phone] 
 
Nicki Gladstone                [e-mail] 
                               [phone] 
Company Secretary 
Link Company Matters Limited   [e-mail] 
                               [phone] 
 
TB Cardew                      [e-mail] 
Ed Orlebar                     [phone] 
Tania Wild                     [phone] 
Lucas Bramwell                 [phone] 
 
Liberum Capital 
Darren Vickers / Owen Matthews [phone] 

Notes to Editors

About AEW UK REIT

AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return to shareholders by investing predominantly in smaller commercial properties (typically less than GBP15 million), on shorter occupational leases in strong commercial locations across the United Kingdom. The Company is currently invested in office, retail, industrial and leisure assets, with a focus on active asset management, repositioning the properties and improving the quality of income streams. AEWU is currently paying an annualised dividend of 8p per share.

The Company was listed on the Official List of the UK Listing Authority and admitted to trading on the Main Market of the London Stock Exchange on 12 May 2015. www.aewukreit.com

LEI: 21380073LDXHV2LP5K50

About AEW UK Investment Management LLP

AEW UK Investment Management LLP employs a well-resourced team comprising 26 individuals covering investment, asset management, operations and strategy. It is part of AEW Group, one of the world's largest real estate managers, with EUR72.8bn of assets under management as at 31 March 2021. AEW Group comprises AEW SA and AEW Capital Management L.P., a U.S. registered investment manager and their respective subsidiaries. In Europe, as at 31 March 2021, AEW Group managed EUR35.7bn of real estate assets on behalf of a number of funds and separate accounts with over 420 staff located in 9 offices. The Investment Manager is a 50:50 joint venture between the principals of the Investment Manager and AEW. In May 2019, AEW UK Investment Management LLP was awarded Property Manager of the Year at the Pensions and Investment Provider Awards.

www.aewuk.co.uk -----------------------------------------------------------------------------------------------------------------------

ISIN:          GB00BWD24154 
Category Code: MSCL 
TIDM:          AEWU 
LEI Code:      21380073LDXHV2LP5K50 
Sequence No.:  112922 
EQS News ID:   1210822 
 
End of Announcement  EQS News Service 
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June 23, 2021 03:14 ET (07:14 GMT)