Adquisición de Virgin Active en Streatham
19 de diciembre 2023
Ingresos alternativos REIT PLC
("AIRE", la "Empresa" o la "Grupo procesos")
ACQUISITION OF A PREMIER LEISURE CLUB IN THE AFFLUENT SUBURBAN LOCATION OF STREATHAM IN SOUTH-WEST LONDON LET TO VIRGIN ACTIVE ON A LONG LEASE WITH UNCAPPED INDEX-LINKED RENTS
The Board of Directors of Alternative Income REIT PLC (ticker: AIRE), the owner of a diversified portfolio of UK commercial property assets predominantly let on long leases with index-linked rent reviews, is pleased to announce that the Company has completed the acquisition of the Virgin Active leisure club in an affluent suburban location in Streatham, in South-West London (the "Asset") for £5.1 million (net of acquisition costs to the Company). The price reflects a net initial yield of 9.8% and a discount to replacement cost.
The acquisition of the Asset redeploys the majority of the net proceeds from the Group's disposal of the Mercure Hotel, Glasgow for £7.5 million, at a higher initial yield. The Group expects to invest the remainder of the proceeds in Q1 2024.
The Asset has been acquired with an unexpired lease term of over 10 years, which is subject to five-yearly upward only uncapped rent reviews linked to RPI. The Asset has a passing rent topped up by the vendor to £390,121 pa (equivalent current ERV pa level) until the next rent review, which is due on 29 September 2024.
The Asset is fully let to Virgin Active Health Clubs Limited and is guaranteed by Virgin Active Health Club Holdings Limited, part of the Virgin Active Group. The club is trading well in this location just off Streatham High Road, benefitting from a densely populated residential area and the hybrid work ethos. The area, which is well served by public transport, is vibrant with a strong residential market, a variety of shops and restaurants and areas of public open space.
The Asset which occupies a third of an acre site, was originally the Streatham Squash Club and was significantly extended in 1999 and refurbished in 2009 when an additional storey was added. The building comprises a total of 24,587 sq ft of purpose-built leisure facility over three floors. The Asset's third floor gym enjoys panoramic views over Greater London.
Simon Bennett, Chairman of Alternative income REIT plc, commented:
"We are pleased to have acquired for £5.1 million the Virgin Active in Streatham, South-West London, which is a premier leisure club that is trading well in an excellent location and is let on a long lease with uncapped index-linked rent reviews. El precio reflects a net initial yield of 9.8% and a discount to replacement cost. This acquisition redeploys part of the net proceeds from the Group's disposal of the Mercure Hotel, Glasgow at a higher initial yield, and we expect to invest the remainder of the proceeds in Q1 2024.
The Board remains confident that the Group is well positioned, given its diversified and fully let portfolio that delivers secure, long-term and index-linked income flow."
CONSULTAS
Ingresos alternativos REIT PLC |
|
Simon Bennett - Presidente | a través de H/Advisors Maitland a continuación |
M7 Bienes Raíces Ltda. ricardo croft jane bloré | 44 0 20 3657 5500 |
Panmure Gordon (Reino Unido) Limited | 44 0 20 7886 2500 |
Alex Collins | |
tom scrivens | |
Maitland / AMO (Asesor de comunicaciones) | |
James benjamin Rachel cohen | 44 + (0) 7747 113 930 44 0 20 7379 5151 |
El LEI de la empresa es 213800MPBIJS12Q88F71.
Más información sobre la Renta Alternativa REIT plc está disponible en www.ingresosalternativosreit.com*
* Ni el contenido del sitio web de la Compañía, ni el contenido de ningún sitio web accesible desde hipervínculos en su sitio web o en cualquier otro sitio web, se incorpora a este anuncio ni forma parte de él ni, a menos que se haya publicado previamente en un Servicio de información reglamentaria, en caso de que tal se debe confiar en el contenido para tomar una decisión sobre si adquirir o no, continuar manteniendo o enajenar valores en la Compañía.
NOTAS
Ingresos alternativos REIT PLC tiene como objetivo generar una rentabilidad sostenible, segura y atractiva para los accionistas a partir de una cartera diversificada de inversiones inmobiliarias en el Reino Unido, predominantemente en sectores alternativos y especializados. La mayoría de los activos de la cartera del Grupo se alquilan mediante arrendamientos a largo plazo que contienen disposiciones de revisión de rentas vinculadas a índices.
El administrador de activos de la Compañía es M7 Real Estate Limited ("M7"). M7 es líder especialista en el mercado inmobiliario paneuropeo, regional y multiinquilino. Tiene más de 230 empleados en 14 países y territorios. El equipo gestiona más de 610 activos con un valor de alrededor de 6.9 millones de euros (al 30 de septiembre de 2023).
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