£34.75 million acquisition of Rycote Lane
4 June 2025
Warehouse REIT plc
(the "Company" or "Warehouse REIT", together with its subsidiaries, the "Group")
£34.75 million acquisition of Rycote Lane multi-let industrial estate in Thame
Warehouse REIT, the multi-let warehouse investor, announces that it has exchanged contracts for the acquisition of Rycote Lane, a multi-let industrial estate near Thame, in the Oxford-Cambridge Arc, a high conviction location for the Company.
This acquisition follows a previous forward funding arrangement announced in 2022 to acquire the 173,000 sq ft scheme once completed, for a total commitment of £35 million. Having terminated that arrangement after making an initial payment of £1.75 million, the Company is now pleased to be progressing the acquisition of this completed and well-let asset for a further £34.75 million, reflecting the de-risked nature of the asset today and its excellent strategic fit with the Company's portfolio.
The scheme comprises 14 units, ranging in size from 3,000 sq ft to over 50,000 sq ft, and is 98% occupied, generating a contracted rent of £2.1 million, equating to a net initial yield of 5.6%. Contracted rent per sq ft ranges from £11.50 to £13.50, providing a strong base for rental growth. It is rated BREEAM Excellent, and all units are EPC A rated.
Rycote Lane is strategically located 15 miles east of Oxford and adjacent to the A329 and 2.5 miles from Junction 7 of the M40, which connects London and Birmingham.
The acquisition is expected to complete at the end of September 2025.
Enquiries
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Warehouse REIT plc |
via FTI Consulting |
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Tilstone Partners Limited Simon Hope, Peter Greenslade, Jo Waddingham |
+44 (0) 1244 470 090 |
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G10 Capital Limited (part of the IQEQ Group), AIFM Maria Baldwin |
+44 (0) 20 7397 5450
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FTI Consulting (Financial PR & IR Adviser to the Company) Dido Laurimore, Richard Gotla, Oliver Parsons |
+44 (0) 20 3727 1000 |
Further information on Warehouse REIT is available on its website: http://www.warehousereit.co.uk
Notes
Warehouse REIT is UK Real Estate Investment Trust that invests in UK warehouses, focused on multi-let assets in industrial hubs across the UK.
We provide a range of warehouse accommodation in key locations which meets the needs of a broad range of occupiers. Our focus on multi-let assets means we provide occupiers with greater flexibility so we can continue to match their requirements as their businesses evolve, encouraging them to stay with us for longer.
We invest in our business by selectively acquiring assets with potential and by delivering opportunities we have created. Through pro-active asset management we unlock the value inherent in our portfolio, helping to capture rising rents and driving an increase in capital values to deliver strong returns for our investors over the long term. Sustainability is embedded throughout our business, helping us meet the expectations of our stakeholders today and futureproofing our business for tomorrow.
The Company is an alternative investment fund ("AIF") for the purposes of the AIFM Directive and as such is required to have an investment manager who is duly authorised to undertake the role of an alternative investment fund manager ("AIFM"). The AIFM and the Investment Manager is currently G10 Capital Limited (Part of the IQEQ Group).
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