Disposal Of Rose Kiln Court, Reading
18/07/2022 07:00
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RNS Number : 7018S Industrials REIT Limited 18 July 2022
INDUSTRIALS REIT LIMITED
(Formerly Stenprop Limited)
(Registered in Guernsey with registration number 64865)
LSE share code: MLI JSE share code: MLI
ISIN: GG00BFWMR296
("Industrials REIT" or the "Company")
18 July 2022
DISPOSAL OF ROSE KILN COURT, READING
Industrials REIT, the UK multi-let industrial ("MLI") property company,
announces that it has completed the sale of Rose Kiln Court, Reading for a
total consideration of £5.88 million. The sale price represents a £0.135
million or 2.2% discount to the 31(st) March 2022 valuation of £6.015
million.
The property, which comprises 31,687 sq ft of hybrid office/industrial
accommodation on a 1.88 acre site, is currently vacant following the expiry of
a lease across the entire building to Thames Water in April 2022. Rose Kiln
Court is located close to Reading town centre and presents an attractive
repositioning and redevelopment opportunity for a variety of commercial and
residential uses.
Will Lutton, Head of Investment at Industrials REIT, commented: "This sale
represented an opportunity to recycle the proceeds from a single let asset at
the end of its economic life into further accretive MLI opportunities that fit
our strict investment criteria."
Industrials REIT was represented by JLL on the transaction.
This announcement is voluntary and for information purposes only.
For further information:
Industrials REIT Limited +44(0)20 3918 6600
Paul Arenson (paul.arenson@industrials.co.uk)
Julian Carey (julian.carey@industrials.co.uk)
James Beaumont (james.beaumont@industrials.co.uk)
Numis Securities Limited (Financial Adviser) +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine
FTI Consulting (PR Adviser) +44(0)20 3727 1000
Richard Sunderland
Richard Gotla
Neel Bose
industrialsreit@fticonsulting.com (mailto:industrialsreit@fticonsulting.com)
Java Capital +27 (0)11 722 3050
(JSE Sponsor)
About Industrials REIT:
Industrials REIT is a UK REIT with a primary listing on the London Stock
Exchange and a secondary listing on the JSE. The objective of the Company is
to deliver a combination of sustainable growing income and growth in value to
its investors. Industrials REIT focuses on owning and operating a diversified
portfolio of UK purpose built multi-let industrial (MLI) estates across the
UK. The Company aspires to be the leading MLI business in the UK. For further
information, go to www.industrialsreit.com.
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