Printer Friendly

AEW UK Long Lease REIT Acquires Camberley Premier Inn for GBP 8.5m.

M2 EQUITYBITES-September 18, 2017-AEW UK Long Lease REIT Acquires Camberley Premier Inn for GBP 8.5m


18 September 2017 - UK-based real estate investor AEW UK Long Lease REIT plc (LSE: AEWL) has acquired the Premier Inn hotel on 12-16 Park Street, Camberley for GBP 8.5m (USD 11.46m), the company said.

The 43,468 sq ft hotel constructed in 2012 provides an unexpired lease term of 15 years to break and 20 years to expiry, with five yearly CPI linked reviews and has been acquired for a price reflecting a net initial yield of 5.0%.

The 95-bed property occupies a prominent position on the corner of Park Road and London Road directly opposite the rear entrance to the Royal Military Academy Sandhurst.

This deal follows the recent acquisition of a Travelodge hotel and Salvation Army centre in Swindon for GBP 6.3m, along with the exchange of a Wet 'n' Wild Water Park in Newcastle-upon-Tyne for GBP 2.9m.

The company has a further five assets under offer, with a combined value in excess of c GBP 30m and expects to make additional announcements in the coming weeks.

AEW UK Long Lease REIT plc raised GBP80.5m from institutional and retail investors at its IPO in June and at that time it said its expectation to substantially invest the net proceeds within nine months of listing.

The company is targeting an annual dividend of 5.5 pence per share paid quarterly, once fully invested and levered, with an ambition to grow in line with UK inflation thereafter.

((Comments on this story may be sent to

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Geographic Code:4EUUK
Date:Sep 18, 2017
Previous Article:The Gym Group Acquires 18 Gyms from Lifestyle Fitness.
Next Article:Insurer Aviva Completes EUR 475m Sale of Spanish Business.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |