Cromwell REIT Buys British Logistics Property

News about Cromwell European REIT

Cromwell REIT is announcing the acquisition of a freehold logistics property in the United Kingdom for a price of £10.0 million (approximately 11.7 million Euros):

  • Attractive 5.6% net operating income (“NOI”) yield3, ~3% below independent valuation and 32% discount to replacement cost4
  • The Asset is situated in a prime logistics location close to the major cities of Liverpool and Manchester, with good connectivity to major motorway networks, two airports and a deep-sea port
  • The Asset is 100% let on a 10-year lease, with opportunity for rental growth and value enhancement
Cromwell European REIT
Price2.620 EUR
NAV2.510 EUR
Yield (4 quarters)6.57%
Gearing35.8%