REG-AEW UK REIT plc AEW UK REIT plc: Sale of two industrial assets for £16.7 million

Aew UK ReitAnnouncement

23/08/2021 09:55

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   AEW UK REIT plc (AEWU)
   AEW UK REIT plc: Sale of two industrial assets for £16.7 million

   23-Aug-2021 / 09:51 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                                 23 August 2021

                                AEW UK REIT plc

                Sale of two industrial assets for £16.7 million

    

   AEW UK REIT plc ("AEWU" or "the  Company") is pleased to announce that  it
   has sold two  industrial assets,  Units 16 &  16A, Langthwaite  Industrial
   Estate in South Kirkby and Wella  Warehouse in Basingstoke for a total  of
   £16.7 million.

    

   The  sale  of  South  Kirkby  completed  on  Friday  20th  August,  whilst
   Basingstoke has exchanged with completion subject to freeholder consent.

    

   The sites  are  single let,  totalling  278,428 sq  ft  in size,  and  are
   situated in strong regional locations.  The combined rental income of  the
   two properties  is  £1,177,087 pa.  Both  sales will  deliver  significant
   profit by exceeding their most recent valuations and the prices AEWU  paid
   at acquisition. 

    

   Commenting on the  sales, Alex  Short, Portfolio  Manager of  AEW UK  REIT
   said, "The two assets in South Kirkby and Basingstoke have performed  well
   and delivered excellent  returns to  AEWU shareholders over  the last  few
   years, as AEWU  has enjoyed  the benefits  of an  overall heavy  weighting
   towards the industrial  sector. The  value of the  properties has  climbed
   significantly, and we believe now is  the time to realise this profit  and
   reinvest the proceeds into new  exciting opportunities that we are  seeing
   in the market."

    

   For further information, please contact:

    

   AEW UK                          
   Alex Short                      1 alex.short@eu.aew.com
                                  +44(0) 20 7016 4848
   Nicki Gladstone                 2 nicki.gladstone-ext@eu.aew.com
                                  +44(0) 7711 401 021
   Company Secretary               3 aewu.cosec@linkgroup.co.uk
   Link Company Matters Limited   +44(0) 1392 477 500
                                   
   TB Cardew                       4 aew@tbcardew.com
   Ed Orlebar                     +44 (0) 7738 724 630
   Tania Wild                     +44 (0) 7425 536 903
   Lucas Bramwell                 +44 (0) 7939 694 437
                                   
   Liberum Capital                 
   Darren Vickers / Owen Matthews +44 (0) 20 3100 2000

    

   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  £15 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

    

   AEWU is  currently  paying  an  annualised  dividend  of  8p  per  share. 
    5 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 €72.8bn 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 €35.7bn of real estate assets on behalf of a
   number of funds  and separate accounts  with over 430  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.

    

    6 www.aewuk.co.uk

    

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   ISIN:           GB00BWD24154
   Category Code:  MSCM
   TIDM:           AEWU
   LEI Code:       21380073LDXHV2LP5K50
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   120519
   EQS News ID:    1228134


    
   End of Announcement EQS News Service

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References

   Visible links
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   2. mailto:nicki.gladstone-ext@eu.aew.com
   3. mailto:aewu.cosec@linkgroup.co.uk
   4. mailto:aew@tbcardew.com
   5. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=9220892e63355ca6947a3a3423a3bac8&application_id=1228134&site_id=refinitiv2&application_name=news
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