Urban Logistics acquires five logistics assets for £33.1m

Real estate investment trust Urban Logistics acquired five high-quality logistics assets on Monday for a grand total of £33.1m.

Urban Logistics snapped up a 43,881 square foot distribution unit in Ripon for £2.9m in a sale-and-leaseback deal from Xpediator, a distribution warehouse in Braintree for £11.2m, a 71,384 square foot distribution warehouse in Oxford for £9.1m, a Giant Booker-let unit for £5.1m and a Warrington-based unit let to CDS for £4.8m.

The AIM-listed group highlighted that the newly acquired urban logistics sites supported "a diverse customer base".

Chief executive Richard Moffitt said: "These acquisitions were sourced off-market and are in line with our strategy of focusing on well-located logistics properties that supply essential products and consumer goods.

"Following the successful completion of our recent fundraising, we will now work to conclude the acquisition of further logistics properties from our established pipeline, enabling the rapid deployment of new funds into high-quality income-generating assets."

As of 1105 GMT, Urban Logistics shares were up 0.96% at 140.84p.