FINANCE: Ground Rents Income Fund REIT has bought a portfolio of fixed uplift ground rents for £1.7m, and exchanged contracts for the acquisition of a further portfolio of index-linked ground rents for £18.8m.
The fixed uplift portfolio produces a total income of £73,500 pa and the index-linked portfolio produces a total income of £565,400 pa.
Investment adviser to GRIF James Agar said: “These acquisitions provide shareholders with a significant portfolio of stable, secure, income-producing assets. This large index-linked transaction takes the percentage of GRIF’s index-linked income to more than 70%.”
