LXI REIT plc (LSE:LXI) acquired 94,000 square feet garden centre in Shinfield, Reading for £19 million on June 10, 2021. The acquisition was through exchanged contracts on the forward funding. The sale proceeds of £575,000 of a small, ancillary retail parade acquired last year represent a 100% premium to the purchase price paid by LXI REIT and will be deployed into the LXI REITs accretive forward funding pipeline. The consideration is reflecting an accretive 5.3% net initial yield. Luke Simpson and Liz Yong of Peel Hunt LLP acted as financial advisor, Ed Matthews and Tom Yeadon of Jefferies International Limited acted as financial advisor and James Benjamin of Maitland/AMO acted as communications adviser to LXI REIT plc.
LXI REIT plc (LSE:LXI) completed the acquisition of 94,000 square feet garden centre in Shinfield, Reading on June 10, 2021.