Warehouse REIT is to up its £175m share sale by a further £100m owing to strong demand.
It has already conditionally placed 90,909,090 new shares with existing and new investors at a price of 110p per share.
The firm is to increase the size of the firm placing by £100m to £175m and will raise the extra £100m through an open offer, offer for subscription and intermediaries offer.
Neil Kirton, chairman of Warehouse REIT, said: “During this period of unprecedented disruption, we have witnessed an increasing polarisation between different real estate sectors. The UK urban warehouse sector has proven itself to be firmly on the right side of this divide, as the structural trends underpinning the rapid growth of e-commerce have accelerated, supporting strong demand from occupiers seeking to future-proof their businesses.
“Furthermore, the motivated pool of sellers we witnessed earlier in the year has expanded as a result of recent market uncertainty, resulting in acquisition opportunities at attractive entry levels and supporting our view that now is the right time to deliver on our stated strategy of significantly scaling the REIT.”
Peel Hunt and RBC are the placing agents for the company.
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