Regional REIT (RGL); Disposal of industry property portfolio for £39.1m

RGL announced the disposal of an industrial property portfolio for £39.1m, having increased 24.1% since the December 2017 valuation and representing a net initial yield of 6.9%.

The portfolio comprises 15 industrial property assets, 54 units, and 42 tenants amounting to 610,620 sqft. The company also stated that it had taken several initiatives including a series of renovations and subdivision of some of the larger units to improve occupancy rate and rental income.