Urban Logistics has bought six last-mile logistics assets for £27.8m, reflecting a 6.9% net initial yield.
These included a sale-and-leaseback portfolio of four properties in Macclesfield, Telford, Royal Wootton Bassett and Yate from Kinaxia Logistics for £17.3m, with a 6.2% net initial yield. The Kinaxia portfolio totalled 167,350 sq ft.
As part of a sale-and-leaseback deal with XPO Logistics, the REIT bought a 80,209 sq ft distribution facility for £6.7m in Leigh, Lancashire, at a 6.2% net initial yield.
And in Rotherham in Yorkshire, Goodman sold a 124,966 sq ft distribution unit to the company for £3.8m, representing a 10.8% net initial yield.
Richard Moffitt, chief executive, said the assets are “perfectly positioned to deliver essential goods the ‘last mile’ to customers and businesses in key conurbations.”
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