Share Name Share Symbol Market Type Share ISIN Share Description
Urban Logistics Reit Plc LSE:SHED London Ordinary Share GB00BYV8MN78 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.25 0.74% 170.25 169.00 171.50 170.25 169.00 169.00 750,946 15:49:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 24.2 47.6 21.7 7.8 553

Urban Logistics REIT PLC GBP30 Million Portfolio Sale

26/03/2021 7:00am

UK Regulatory (RNS & others)

Urban Logistics Reit (LSE:SHED)
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RNS Number : 5655T

Urban Logistics REIT PLC

26 March 2021

Urban Logistics REIT plc

("Urban Logistics" or the "Company")

GBP30 Million Portfolio Sale

Urban Logistics, (AIM: SHED) the specialist UK logistics REIT, announces that it has exchanged contracts to sell five assets as part of a portfolio for GBP30.0 million at a 4.8% exit yield, realising a total property return of 78.8%.

The sale is in line with Urban Logistics' stated strategy of active portfolio management and value optimisation where appropriate. Completion is expected to take place on 21 April 2021. The average purchase price was 7.0% NIY and the Company has undertaken extensive asset management with new rents and lease terms agreed across all sites. The sale represents a 35.4% uplift on 30 September 2020 book values. The proceeds will be reinvested into other pipeline opportunities.

The five assets are located in Bedford, Northampton (two warehouses), Leicester and Chesterfield and have been sold to a joint venture between The Carlyle Group and ARA Dunedin. They are let with an average WAULT of 7.4 years.

Richard Moffitt, Chief Executive, commented:

"I am extremely pleased with this sale which has realised a strong return for shareholders.

"Since we started out on our journey in 2016, we have achieved considerable success creating, then realising value across our portfolio once available asset management initiatives have been completed. This deal is the latest example of our proven track record of value creation.

"The funds realised from these sales will be quickly redeployed in acquiring further assets from our pipeline."

- Ends -

For further information contact:

 Urban Logistics REIT plc 
  Richard Moffitt                                +44 (0)20 7591 1600 
 Buchanan                                        +44 (0)20 7466 5000 
  Helen Tarbet                                    +44 (0)7872 604453 
  Henry Wilson                                    +44(0) 7788 528143 
  George Beale                                    +44 (0) 7450 295099 
 N+1 Singer - Nominated Adviser and Broker 
  James Maxwell / James Moat (Corporate 
  Alan Geeves / James Waterlow / Sam Greatrex 
  (Sales)                                        +44 (0)20 7496 3000 
 Panmure Gordon (UK) Limited - Joint Broker 
  Chloe Ponsonby (Corporate Broking) 
  Emma Earl (Corporate Finance)                  +44 (0)20 7886 2500 

About Urban Logistics REIT

Urban Logistics REIT plc is a property investment company, quoted on the AIM market of the London Stock Exchange, (AIM: SHED).

The Company has been established to invest in UK-based logistics properties with the objective of generating attractive dividends and capital returns for its shareholders. Its investment strategy focuses on strategically located smaller single let properties servicing high-quality tenants. Investment returns will be generated by an experienced management team focusing on quality stock selection and active asset management.

A number of structural and commercial factors currently support the attractive opportunity in the last mile/regional industrial and logistics real estate sub-sectors targeted by the Company, including: strong occupier demand, (driven by the growth of e-commerce and investment by retailers in their associated supply chain) and a decline in the supply of smaller sized lettable space in industrial and logistics real estate across the UK.

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(END) Dow Jones Newswires

March 26, 2021 03:00 ET (07:00 GMT)

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