Warehouse REIT has exchanged contracts to acquire the Rycote Lane multi-let industrial estate, near Thame, in the Oxford-Cambridge Arc.
This acquisition follows a previous forward-funding arrangement announced in 2022 to acquire the 173,000 sq ft scheme once completed for a total commitment of £35m.
Having terminated that arrangement after making an initial payment of £1.75m, Warehouse REIT is progressing the acquisition of the asset for a further £34.75m.
The scheme comprises 14 units, ranging in size from 3,000 sq ft to more than 50,000 sq ft. The estate is 98% occupied and generates rental income of £2.1m, equating to a net initial yield of 5.6%. Contracted rent ranges from £11.50/sq ft to £13.50/sq ft, providing a strong base for rental growth.
The acquisition is expected to complete at the end of September 2025.
