Regional REIT acquires UK regional office portfolio for €35.12m

Regional REIT acquires regional office portfolio for €35.12m (GB)

M7 Real Estate, acting on behalf of M7 Real Estate Investment Partners VI,  has sold a portfolio of UK regional assets to Regional REIT for €35.12m (£31.4m). The portfolio consists of seven regional office assets and one mixed-use asset, located in Lincoln, Ipswich, Stockton-on-Tees, Wakefield, Deeside, Clevedon, High Wycombe and Hull. It totals 277,280ft² GLA across 47 lettable units, which are 92% let to 24 tenants, delivering an annual net income of circa €3.14m (£2.81m), reflecting a net initial yield of 8.66%.


John Murnaghan, Head of UK Real Estate at M7 Real Estate commented: “While the portfolio has been under our ownership for a relatively short time, following the completion of a number of lettings and lease renewals and having received an off-market approach from Regional REIT and the team at London & Scottish Investments Limited, who we know well and have worked with before, we are pleased to be able to crystallise this investment ahead of plan.”

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