Yew Grove acquires land adjacent to Irish technology building
Yew Grove Reit (CDI)
€1.00
14:39 08/02/22
AIM-quoted real estate investment trust Yew Grove has agreed to acquire land adjacent to its technology building in Westmeath, Ireland.
Yew Grove, which owns a portfolio of Irish commercial property assets, will purchase the land at IDA Business and Technology Park from the IDA Ireland in order to satisfy demands for the construction of a 70-space car park made by existing tenant KCI Manufacturing.
The total cost of the project, one of a number of Yew Grove's asset management initiatives, is expected to be approximately €500,000.
Chief executive Jonathan Laredo said: "We are pleased to announce that we will be providing KCI with increased and enhanced car parking facilities as well as securing the land required for any future expansion of their facilities."
"We believe that an active partnership with our tenants is the most productive way to help us both grow our businesses."
As of 0950 BST, Yew Grove shares had slipped 0.28% to €1.03 each.