Major industrial site in Scunthorpe included as part of £45m industrial portfolio disposal

Regional REIT Limited, the UK regional office specialist,  has completed on the disposal of a portfolio of industrial property assets for £45m.

Regional REIT Limited has provided an update on the disposals for the City

The company has exchanged on the disposal of seven industrial properties (801,787sq.ft.) located in Bromborough, Erith, Nottingham, Scunthorpe, Telford, Winsford and Wisbech.

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The statement added: "The properties benefited from several asset management initiatives which assisted in improving occupancy rates, rental income and in turn capital values. The sale was completed 7.5% above the company's 31 December 2020 valuation and at an uplift of 18.0% from the acquisition price after capital expenditure costs."

"It is anticipated that the proceeds from the disposal will be promptly recycled into the group's strong pipeline of higher yielding regional office investments to further diversify the portfolio by geography and income stream."

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