Deal completes to sell off industrial premises

An industrial property in Wakefield district has been sold as part of a deal worth £16.7m in total.

AEW UK REIT plc has sold two industrial assets, Units 16 & 16A, Langthwaite Industrial Estate in South Kirkby, Wakefield, and Wella Warehouse in Basingstoke.

The sale of South Kirkby completed on Friday 20 August.

These sites are single let, totalling 278,428 sq ft in size, with a combined rental income of £1,177,087 pa.

Alex Short, portfolio manager of AEW UK REIT, said: “The two assets in South Kirkby and Basingstoke have performed well and delivered excellent returns to AEWU shareholders over the last few years, as AEWU has enjoyed the benefits of an overall heavy weighting towards the industrial sector.

“The value of the properties has climbed significantly, and we believe now is the time to realise this profit and reinvest the proceeds into new exciting opportunities that we are seeing in the market.”