Regional REIT has completed the £35.2m off-market purchase of a six-strong portfolio from Kildare Partners.
The 320,000 sq ft portfolio consists of five regional offices and one office/distribution property located in Telford, Rotherham, Macclesfield, Dundee, Chelmsford and Bedford.
The assets are expected to provide a total net income of circa £3.1m pa which equates to a net initial yield of 8.4%.
Leo Zielinski, partner at Gerald Eve, said “We are pleased to have secured this portfolio for Regional REIT, offering significant asset management opportunities and income growth potential. This is the third off market portfolio acquisition that we have advised Regional REIT on over the last 12 months bringing the total to over £200m of deals.”
