Lease surrender
Updated : 15:28
Yew Grove REIT plc
(the "Company" or "Yew Grove ")
Lease surrender
Yew Grove, which owns a diversified portfolio of Irish commercial property assets, announces that it has agreed terms on a surrender of a lease at its property located in Cork Airport Business Park. The agreement will break the existing lease that had an annual rent roll of €0.63 million and lease end in five years in return for a payment of €3.0 million in respect of dilapidations and rent foregone.
The Board is confident in the medium term re-letting prospects for the building that was refurbished in 2015 to a high standard and includes a 163-space car park.
Enquiries:
Yew Grove REIT plc | Tel: 353 (1) 480 3960 | ||||
Jonathan Laredo, Chief Executive Officer | |||||
Michael Gibbons, Chief Investment Officer | |||||
Charles Peach, Chief Financial Officer | |||||
Investec Bank plc | |||||
NOMAD & Joint Broker: David Anderson, Darren Vickers | Tel: +44 (0) 20 7597 5970 | ||||
ESM Advisor & Joint Broker: Tommy Conway, Eoin Kennedy
| Tel: +353 (1) 421 0000
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Goodbody Stockbrokers | |||||
Joint Broker: David Kearney, Joe Gill | Tel +353 (1) 667 0400 | ||||
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IFC Advisory Financial PR Tim Metcalfe, Graham Herring, Heather Armstrong | Tel +44 203 934 6634 | ||||
Notes to editors:
Yew Grove REIT is an Irish commercial real estate company invested in a diversified portfolio of Irish commercial property, with a particular focus on well-tenanted commercial real estate assets comprising office and industrial assets let to Irish government entities and other state bodies, IDA Ireland supported and other FDI companies, and larger corporates.
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