Warehouse REIT buys Oxfordshire estate for £35m
Warehouse investor Warehouse REIT has purchased the Rycote Lane multi-let industrial estate in Thame, Oxfordshire for £34.75m.
The company announced on Wednesday afternoon that the asset, situated in the Oxford-Cambridge Arc, was a "high conviction location for the company".
Warehouse REIT already had a forward funding arrangement, announced in 2022, to buy the scheme once completed for £35m.
But having terminated that arrangement after making an initial payment of £1.75m, the company has purchased the asset for a further £34.75m, which it said "reflect[s] the de-risked nature of the asset today".
The estate comprises 173,000 sq ft across 14 units, already generating £2.1m in contracted rent each year.
Warehouse REIT shares were up 0.7% at 106.82p by 1435 BST.