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Six new units commissioned at Avonmouth Financial backers have opened the door to a 457,000 sq ft mixed box logistics scheme at Avonmouth.
The 25-acre site at Severn Road will see six new buildings, ranging from 16,000 sq ft to 240,000 sq ft.
The first phase will be two industrial units totalling 80,000 sq ft and 240,000 sq ft. Construction is due to start in September 2021 and the two buildings will be completed by summer 2022.
Phase two will be four smaller buildings which will range from 20,000 sq ft up to 62,000 sq ft to total 125,000 sq ft.
The development has been accelerated by funding from British Airways Pension Trustees, who funded the £11 million site acquisition for Tungsten Properties.
Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, announces the acquisition of a further stake (the Acquisition ) in the beneficial interest in one of the UK s largest portfolios of supermarket properties (the Portfolio ) from an Aviva Investors managed fund.
The 25.5% beneficial interest has been acquired through the Company s existing 50:50 joint venture (the JV ) with British Airways Pension Trustees Limited ( BAPTL ). The purchase price is £115.0 million (excluding acquisition costs) meaning that the Company s contribution to the JV to fund the Acquisition is £57.5 million (excluding acquisition costs).
The JV acquired its initial 25.5% beneficial interest from British Land Plc in May 2020. Following this second acquisition, the JV s ownership in the Portfolio is 51.0%. The remaining 49.0% beneficial interest is held by Sainsbury s plc.
Thu, 18th Feb 2021 12:15
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
Supermarket Income REIT PLC - real estate investment trust dedicated to investing in supermarket property - Doubles stake in UK s portfolios of Sainsbury s supermarket properties from an Aviva Investors managed fund. Stake in the portfolio upped to 51% from 25.5%. The 25.5% interest has been acquired through the company s existing 50-50 joint venture with British Airways Pension Trustees Ltd. The purchase price is GBP115.0 million, meaning the company s contribution to the JV to fund the acquisition is GBP57.5 million. The JV acquired its initial 25.5% interest from British Land PLC in May last year. Following this second acquisition, the JV s ownership in the portfolio is 51%. The remaining 49% beneficial interest is held by J Sainsbury PLC. The portfolio was originally created through two sale and leaseback