Ascendas REIT makes foray into United Kingdom with 12-property acquisition

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Ascendas REIT is making an entry into the United Kingdom by acquiring a portfolio of 12 logistics properties for GBP207.27 million (USD273 million).

The portfolio features a weighted average lease expiry (WALE) of 14.6 years, and comprises of ten freehold properties, and two 999-year leasehold properties.

All 12 properties, which collectively feature 242,633 square metres of gross internal area, are 100% occupied on triple net leases to nine separate tenants including DHL, and Amazon.

These properties are sited in industrial areas across various regions in the UK including Yorkshire and the Humber, North West England, East Midlands, West Midlands, South East England and East of England.

“Strategically located in established distribution centres with good connections to core urban areas, the properties are well-poised to capitalise on the growing demand for supply chain and logistics services in the UK market, as a result of booming e-commerce activities”, said Ascendas REIT.

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