Income focused REIT, RDI, has completed the £26.3m purchase of Hampshire industrial estate, Southwood Business Park, in a deal reflecting a net initial yield of 6.2%.
The nine-acre Hampshire estate consists of 18 warehouse units totalling 154,849 sq ft which are presently 91.9% occupied on a weighted average lease length of over five years to expiry.
Chief executive, Mike Watters, said: “This acquisition provides us with an increased exposure to the strong performing South East industrial market, whilst achieving an attractive near-term yield of 6.2% in a competitive investment climate. Our ability to execute this transaction once again highlights our disciplined approach to enhancing the quality of our portfolio and our continued focus on delivering superior, sustainable and growing income for our shareholders.”
