LXi trades industrial assets in £34m worth of deals

SIG Carlisle LXi

Long income industrial REIT, LXi has sold its SIG-let Carlisle manufacturing facility for £12.2m and acquired two north east industrial units for a combined £11.6m with the proceeds.

The REIT, which listed on the London Stock Exchange last year, sold the Carlisle facility to a UK pension fund in an off-market deal following an unsolicited approach. The sale reflects an exit yield of 5.38%, compared to the acquisition yield of 7.0% paid by the company in June 2017 and the valuation is at a 7% premium to latest book value as at 31 March.

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now