Urban Logistics REIT offloads £18.4m assets

Urban Logistics REIT has announced it has offloaded logistics assets in Nuneaton, Bedford and Dunstable for £18.4m in its latest trading update. The REIT also announced it has acquired six logistics properties from Connect Group for £9.9m, at a net initial yield of 7%. These properties are let to Tuffnells Parcel UK on a 20-year lease. It has separately acquired two further properties in Sittingbourne and Thatchem for £5.3m at a 5.9% blended net initial yield. Both properties are let to DHL Parcels Express.  The company’s portfolio valuation has increased by 3.8%, up to £195m since 31 March 2019