23 August 2021

AEW UK REIT plc

Sale of two industrial assets for £16.7 million

AEW UK REIT plc ("AEWU" or "the Company") is pleased to announce that it has sold two industrial assets, Units 16 & 16A, Langthwaite Industrial Estate in South Kirkby and Wella Warehouse in Basingstoke for a total of £16.7 million.

The sale of South Kirkby completed on Friday 20th August, whilst Basingstoke has exchanged with completion subject to freeholder consent.

The sites are single let, totalling 278,428 sq ft in size, and are situated in strong regional locations. The combined rental income of the two properties is £1,177,087 pa. Both sales will deliver significant profit by exceeding their most recent valuations and the prices AEWU paid at acquisition. 

Commenting on the sales, 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."

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Notes to Editors

About AEW UK REIT

AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return to shareholders by investing predominantly in smaller commercial properties (typically less than £15 million), on shorter occupational leases in strong commercial locations across the United Kingdom. The Company is currently invested in office, retail, industrial and leisure assets, with a focus on active asset management, repositioning the properties and improving the quality of income streams.  AEWU is currently paying an annualised dividend of 8p per share. 

The Company was listed on the Official List of the UK Listing Authority and admitted to trading on the Main Market of the London Stock Exchange on 12 May 2015

AEWU is currently paying an annualised dividend of 8p per share.  www.aewukreit.com 

LEI: 21380073LDXHV2LP5K50

About AEW UK Investment Management LLP

AEW UK Investment Management LLP employs a well-resourced team comprising 26 individuals covering investment, asset management, operations and strategy. It is part of AEW Group, one of the world's largest real estate managers, with €72.8bn of assets under management as at 31 March 2021. AEW Group comprises AEW SA and AEW Capital Management L.P., a U.S. registered investment manager and their respective subsidiaries. In Europe, as at 31 March 2021, AEW Group managed €35.7bn of real estate assets on behalf of a number of funds and separate accounts with over 430 staff located in 9 offices. The Investment Manager is a 50:50 joint venture between the principals of the Investment Manager and AEW. In May 2019, AEW UK Investment Management LLP was awarded Property Manager of the Year at the Pensions and Investment Provider Awards.

www.aewuk.co.uk